Industrial closures and asset sales reported in Serbia and Bosnia

In Serbia, the Turkish-owned textile factory Kaizen in Smederevo has initiated liquidation proceedings. The company, owned by Kardem Tekstil, announced that further operations lack economic justification. The process is expected to last 90 days. Approximately 350 workers face job losses; they have been placed on four-day paid leave and instructed to sign termination notices. Despite the closure, documentation indicates the firm has sufficient funds to meet all employee obligations.

In Bosnia and Herzegovina, the former industrial giant Koksara Lukavac is undergoing a bankruptcy sale of its assets. The company's property, valued at over 238 million KM, has been divided into 15 separate lots for sale. The most valuable component is the Coke Factory, with an initial price of 90.9 million KM. Other significant assets for sale include the AMK factory, the Azotar factory, and the Energana factory. Interested buyers must submit documentation by November 10, with public bidding scheduled for November 11.