Owner of 'World of Gold' Vaghars is at the Court's Doorstep

Dark clouds hang over Vaghars Abrahamyan, the owner of 'World of Gold'. His company, 'Vaghars and Sons Concer', has found itself at the court's doorstep. This information has been reported by the newspaper 'Haykakan Zhamanak'.

“The owner of the gold market has filed a lawsuit against the State Inspection Body for Urban Development, Technical and Fire Safety of Armenia. So, what is the reason for this?”

It was discovered in 2023 that, based on an order from the head of the State Inspection Body for Urban Development, Technical and Fire Safety of Armenia dated January 25, 2023, specialists from the inspection body conducted a fire safety examination at the address 24 M. Khorenatsi Street, Yerevan, where 'Vaghars and Sons Concer' LLC is located.

“As a result of the fire safety examination, a report was drawn up on February 6, 2023. The study of existing materials in the administrative proceedings revealed that the buildings and structures at 24 M. Khorenatsi Street, Yerevan, operated by the company, do not comply with numerous requirements of fire safety normative documents. These violations can directly pose a threat to the emergence of fires and the safety of people.”

“Considering the circumstances mentioned, the head of the State Inspection Body for Urban Development, Technical and Fire Safety of Armenia decided to completely suspend the activities of 'Vaghars and Sons Concer' LLC operating at 24 M. Khorenatsi Street, Yerevan,” the report said.