Wildberries, Russia’s dominant e-commerce platform with multi-trillion-ruble GMV, faces liquidity pressure from Ukrainian drone strikes that damaged or destroyed dozens of warehouses in July–August 2026, producing estimated losses of several hundred billion rubles for the company and its sellers. High reported debt under Russian accounting standards (around 830 billion–1.3 trillion rubles) and payment delays to merchants have prompted seller complaints and calls for oversight, yet the firm maintains international-standard leverage near 2× EBITDA and continues operations. Russian authorities have responded with targeted support, including 50 billion rubles in preferential loans for affected small businesses announced in September 2026, automatic payment deferrals, and discussions involving state-linked creditor VTB. Traders assign an 88% probability to no bankruptcy filing before 2027 because the company’s scale, logistics centrality, and access to major domestic banks reduce the likelihood of outright insolvency absent further major escalation.