started · updated
Studenac enters pre-bankruptcy proceedings in Croatia
The Commercial Court in Split has officially opened pre-bankruptcy proceedings for the Croatian retail chain Studenac. The decision follows the company's filing due to severe liquidity pressures and an inability to meet obligations to suppliers and employees.
Studenac management, led by CEO Michal Senczuk, stated that the move is a necessary step toward financial and operational stabilization. The company faces hundreds of millions of euros in obligations to domestic and foreign creditors, including approximately 450 million euros in bank debt and loan obligations.
As part of an ongoing optimization process, Studenac is closing 170 stores, with roughly 75 percent of these locations already shut down. While the company faces significant financial distress, management has emphasized that they do not plan to exit the Croatian market and are working to reach agreements with banks and creditors.
Earlier, A&G Logistika 01 had filed for Studenac's bankruptcy over an 800,000 euro claim, but the company has since withdrawn that specific proposal. Croatian Finance Minister Tomislav Ćorić noted that as Studenac is a private company, the government will not intervene in the proceedings.
Entities
A&G Logistika · A&G Logistika 01 · Commercial Court in Split · Michal Senczuk · Podravka · Studenac · Tomislav Ćorić
Claims
What the coverage asserts, and how many sources carry each claim.
- [DISPUTED] The company employs more than 7,000 people and operates over 1,000 stores. 023.hr · www.24sata.hr · glas-slavonije.hr · www.zagreb.info · jatrgovac.com · +6 more
- [● 16 SOURCES] Studenac filed a proposal for pre-bankruptcy proceedings with the Commercial Court in Split. 023.hr · podravski.hr · www.24sata.hr · glas-slavonije.hr · www.dalmacijadanas.hr · +11 more
- [● 4 SOURCES] A&G Logistika filed for Studenac's bankruptcy due to an 800,000 euro claim. www.24sata.hr · glas-slavonije.hr · www.zagreb.info · jatrgovac.com
- [● 4 SOURCES] Studenac had approximately 450 million euros in bank debt and loan obligations at the end of last year. podravski.hr · www.dalmacijadanas.hr · www.zagreb.info
- [● 2 SOURCES] Studenac has ceased all payments to its suppliers due to blocked bank accounts. 023.hr · lidermedia.hr
- [○ 1 SOURCE] Supplier Podravka stated that its claims against Studenac are secured by insurance. podravski.hr
- [● 4 SOURCES] The company faces hundreds of millions of euros in obligations to domestic and foreign creditors. www.24sata.hr · glas-slavonije.hr · jatrgovac.com
- [● 4 SOURCES] The Croatian government will not intervene in Studenac's pre-bankruptcy proceedings. www.24sata.hr · glas-slavonije.hr · jatrgovac.com
- [● 5 SOURCES] Studenac is closing 170 stores, with approximately 75 percent already shut down. www.dalmacijadanas.hr · www.dnevno.hr · www.index.hr · www.24ur.com · www.delo.si
- [● 3 SOURCES] A&G Logistika 01 has withdrawn its proposal to open bankruptcy proceedings against Studenac. www.jutarnji.hr · zadarskilist.novilist.hr · www.zagreb.info