Agalarov estimates Crocus Group losses from terror attack in 2024 at $150-200M

Emin Agalarov, President of Agalarov Development and son of Crocus Group owner Araz Agalarov, has estimated the approximate damage caused to the company by the terror attack on March 22, 2024, at Crocus City Hall in Krasnogorsk, Moscow Region, at $150-200 million, Report informs via RIA Novosti.

"From a business perspective, this was a devastating effect for the entire Crocus Group, because the operation of all facilities on the territory was paralyzed and attendance decreased after the terror attack," he said.

Agalarov noted that the concert hall was not a profitable business. In its best year, it brought in $1 million, and restoration will require "enormous financial resources, tens of millions of dollars," the source of which is unclear "in today's financial realities."

Therefore, a decision on restoration has not yet been made. Let us recall that the terrorist attack in Crocus City Hall took place on March 22 last year. Four armed terrorists opened fire to kill on visitors to the concert of the group "Piknik" and then set the hall on fire.

The criminals killed 145 people and wounded more than 550.