Wildberries, Russia’s dominant e-commerce platform, has absorbed repeated Ukrainian drone strikes on major warehouses since mid-2026, destroying roughly 20% or more of its logistics capacity and triggering hundreds of billions of rubles in losses for the firm and its sellers. The company carries roughly 1.3 trillion rubles in debt against minimal equity, with short-term obligations dominating and covenant breaches reported earlier. Yet no bankruptcy filing has occurred. Russian authorities have responded with tax deferrals, subsidized credit programs for affected merchants, and access to alternative state logistics networks, while VTB Bank has deepened its partnership through equity stakes and financing support. Wildberries has shifted toward smaller partner warehouses, adjusted seller commissions, and maintained operations without triggering creditor enforcement actions. These factors, combined with the platform’s systemic importance to Russian retail and small-business activity, underpin trader expectations that restructuring and external backing will avert a formal bankruptcy declaration through 2026.