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“Yury Chyzh Not To Be Multi-Millionaire”

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“Yury Chyzh Not To Be Multi-Millionaire”

According to the media, businessman Yury Chyzh intends to establish order in the group of companies Triple.

But will he succeed?

According to tut.by sources, Yury Chyzh, who has been released on bail, has to establish order in the group of companies Triple in six months.

According to Pressball, Yury Chyzh intends to continue to take care of Triple’s businesses.

Marhelau: Belarusian business might strike a mine

Following media reports, co-chairman of the Republican Confederation of Entrepreneurship Viktar Marhelau concludes, that the overall balance of Yury Chyzh’s company is negative and the liabilities exceed the assets.

– But, without doubt, Yury Chyzh is a very competent manager. He might be able to return a great deal. Maybe, he won’t be a multi-millionaire, but he might stay a rich man, – Viktar Marhelau said in his interview to Your Country’s Tomorrow.

The hypermarket Prastor and the shopping center Arena City were passed to the banks by leaseback transactions in summer. Will Yury Chyzh continue to sell out Triple’s assets?

Viktar Marhelau notes, that logic suggests the Triple’s founder should continue doing it. The six months spent in jail should not change the attitude towards him in the business environment.

– We cannot say, that the attitude towards him in the business environment has become negative. I think, in general it can be described as neutral. The situation is, that we all can easily strike a mine. Today you're tall in the saddle, and tomorrow you can suffer Chyzh’s destiny. And you don’t have to be a recidivist for that – such is our legislation and the administration of the law, – the co-chairman of the Republican Confederation of Entrepreneurship said.

Earlier Yury Chyzh’s success was largely attributed to his direct access to the head of state. Will he retain it?

– Judging by Lukashenka’s statements (“If he asks me about something, I will consider his request and react in the same way as for the others”), they have not lost emotional contact, – Viktar Marhelau believes.

Zaika: It would be better for Chyzh not to restore the former archaic business model

The head of the analytical center “Strategy” Leanid Zaika believes that the recent events in the life of Yury Chyzh will affect his business. However, it would be better for the founder of “Triple” not to try to return to the former positions, the economist says.

– I don’t think that Chyzh should restore the former quite archaic business model when he was engaged in business dealing with hotels, gas stations and restaurants… His attempt to get engaged in retail with hypermarkets “Prostor” cannot be called successful. It was like the business model of the 90s, when entrepreneurs were ready to get involved in every activity. Most likely, Chyzh will need to reassess his activities. Good professionals will do it within one and a half or two months, – Leanid Zaika said.

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