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3 clusters · 44 sources · 7 days · First seen · Last updated

Studenac retail chain financial restructuring

Overview

The Croatian retail chain Studenac has entered pre-bankruptcy proceedings with the Commercial Court in Split to address a severe liquidity crisis. The company faces approximately 450 million euros in total debt, consisting of roughly 289 million euros in bank debt and 160 million euros in loan obligations. Due to blocked bank accounts, Studenac has suspended all payments to its suppliers.

As part of an optimization process, the company is closing 170 stores, approximately 75 percent of which have already been shut down. Management stated that while over 400 employees are affected by these closures, most will be reassigned rather than terminated. The company aims to use the structured pre-bankruptcy framework to reach agreements with banks, suppliers, and other creditors while attempting to protect its 7,000 total employees.

A significant legal development occurred when the creditor A&G Logistika 01 withdrew its separate request for Studenac's bankruptcy. While A&G Logistika 01 maintains its claim of 800,000 euros for unpaid transport services, the withdrawal allows the court to focus exclusively on Studenac's own restructuring plan. CEO Michal Senczuk has emphasized that the move is a necessary step toward financial and operational stabilization and that the company does not plan to exit the Croatian market. Croatian Finance Minister Tomislav Ćorić noted that the government will not intervene, as Studenac is a private entity.

Entities

Studenac · Michal Senczuk · A&G Logistika 01 · Commercial Court in Split · Enterprise Investors

Claims

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Coverage disagrees

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Timeline

  1. 3 days ago

    [BUSINESS] 21 sources
    Studenac enters pre-bankruptcy proceedings in Croatia

    The Commercial Court in Split has opened pre-bankruptcy proceedings for retail chain Studenac to stabilize its finances amid hundreds of millions in debt and the closure of 170 stores.

  2. 7 days ago

    [BUSINESS] 22 sources
    Studenac retail chain faces bankruptcy battle and extortion allegations

    Retailer Studenac is fighting for pre-bankruptcy restructuring amid 29 million euros in blocked accounts and a legal dispute with A&G Logistika 01, which has filed for Studenac's bankruptcy.

  3. 9 days ago

    [BUSINESS] 20 sources
    Studenac files for pre-bankruptcy proceedings amid 450 million euro debt

    Croatian retail chain Studenac has filed for pre-bankruptcy proceedings amid nearly 450 million euros in debt and significant arrears to suppliers, leading to some store closures.

Sources

023.hr · 24sata.hr · 24ur.com · alpinerecreation.com · banjaluka.net · biznis.ba · biznisinfo.ba · biznismagazin.rs · borba.me · bosnainfo.ba · dalmacijadanas.hr · dalmatinskiportal.hr · delo.si · dnevnik.hr · dnevno.hr · dubrovackidnevnik.net.hr · dubrovniknet.hr · eventbrite.co.uk · financije.hr · finanse.wp.pl · glas-slavonije.hr · glasistre.hr · index.hr · informacijecrnagora.me · jatrgovac.com · jutarnji.hr · lavoce.hr · lider.media · lidermedia.hr · mojkraj.hr · novac.jutarnji.hr · novilist.hr · podravski.hr · poduzetnistvo.org · poslovni.hr · suvremena.hr · telegram.hr · teleskop.hr · tockanai.hr · vecernji.hr · vijesti.ba · vijesti.hrt.hr · zadarskilist.hr · zagreb.info

This summary has been updated 6 times: see revision history