A Moscow court has declared Russia’s only domestic television manufacturer bankrupt, the newspaper Kommersant reported Monday, citing court records. Following DNS’s initial petition, 24 additional creditors joined the bankruptcy proceedings against Kvant, the only Russian TV maker registered with the country’s Ministry of Industry and Trade. Court-approved claims have pushed Kvant’s total debt load to 4.15 billion rubles ($51.2 million), with Sberbank and Yandex listed among its largest creditors. Kvant’s revenue plummeted from 13.1 billion rubles ($161.7 million) in 2023 to 4.9 billion rubles ($60.5 million) in 2024. Last year, revenues collapsed to just 45 million rubles ($555,000), leaving the company with a net loss of 387 million rubles ($4.7 million) and tens of millions of rubles in unpaid wages owed to workers.