Zaječar’s former Timočanka textile factory put up for sale

The municipality of Zaječar announced a public tender to sell the former Timočanka knitwear factory complex. The property comprises 32,435 m² of production, auxiliary buildings and a garage, with an opening price of 202.5 million Serbian dinars (about €1.7 million). Founded in 1946, Timočanka grew into one of eastern Serbia’s largest textile and leather producers, employing more than 2,500 workers at its peak and gaining international recognition for its men’s leather jackets. The 1990s economic crisis, the breakup of Yugoslavia and subsequent sanctions led to the company’s collapse and lengthy bankruptcy procedures. The city acquired the site in 2005 and has been seeking a new investor for over two decades. The current sale aims to find a buyer who will repurpose the extensive industrial area and revive local employment.