BigBuzzy Coupon service announces its bankruptcy

A Russian player in the coupon market requests to declare himself bankrupt for the first time. One of the five most popular coupon services, Bigbuzzy, can become insolvent. The company has received wide recognition, including the case after their special offer to order iPhone 4S in advance which had not come into the Russian market, when many buyers never received their smartphones.

The corresponding application from BigBazzi LLC has already been submitted to the Supreme Arbitration Court of the Russian Federation. This means that the service may easily refuse to fulfill their obligations contractually, which will lead to mass payment refuse to the service partners. However, the Bigbuzzy site has not stopped its work so far (and according to the law a bankruptcy petition is not enough to go out of business.)

According to J`son & Partners Consulting, as of January-February 2012 Bigbuzzy was among the five largest coupon services amounting 126000 people visitors. This is a lot less than, for example, Kupikupon (470000) and Groupon (382000), and by an order of magnitude is less than the leader Biglion (2,34 M).

Bigbuzzy achieved renown last fall, when it began taking pre-orders for iPhone 4S, not yet available for sale in Russia. Offering customers great discounts for smartphones, the service managed to sell 7,556 coupons - each of them costing about 20 000 RUR. However, it turned out later that many customers can not get the iPhone, as their stated value was the lowest in the world.

In addition, the Moscow Arbitration Court began receiving complaints from the partners of Bigbazzi, insisting that the company does not fulfill its obligations. At the moment, about 20 claims are filed, some of them are granted.