# Studenac retail chain financial restructuring > Live situation record from CLSTR: https://clstr.news/situations/studenac-retail-chain-financial-restructuring > Updated: 2026-09-29T04:21:06.000Z. Sources: 44. Developments: 3. 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. ## Claims - The company employs more than 7,000 people and operates over 1,000 stores. (disputed by 11 sources) - Studenac employs more than 7,000 workers across 1,400 stores. (disputed by 4 sources) - Studenac filed a proposal for pre-bankruptcy proceedings with the Commercial Court in Split. (corroborated by 16 sources) - Studenac is preparing legal action against A&G Logistika 01 owner Antonio Gavranović. (corroborated by 8 sources) - Studenac accuses Antonio Gavranović of attempted extortion. (corroborated by 8 sources) - A&G Logistika 01 requested the opening of bankruptcy for Studenac due to claims of approximately 800,000 euros. (corroborated by 7 sources) - Studenac has filed a proposal for court-supervised restructuring. (corroborated by 7 sources) - Studenac is closing 170 stores, with approximately 75 percent already shut down. (corroborated by 5 sources) - The company faces hundreds of millions of euros in obligations to domestic and foreign creditors. (corroborated by 4 sources) - The Croatian government will not intervene in Studenac's pre-bankruptcy proceedings. (corroborated by 4 sources) - Studenac had approximately 450 million euros in bank debt and loan obligations at the end of last year. (corroborated by 4 sources) - Studenac's debts to suppliers amounted to 60.6 million euros as of September 23. (corroborated by 3 sources) ## Timeline ### 2026-09-29: 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. 21 sources. https://clstr.news/cluster/studenac-retail-chain-faces-crisis-amid-pre-bankruptcy-filing ### 2026-09-25: 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. 22 sources. https://clstr.news/cluster/studenac-files-for-restructuring-amid-legal-dispute-with-ag-logistika ### 2026-09-22: 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. 20 sources. https://clstr.news/cluster/studenac-retail-chain-faces-450-million-euro-debt-crisis --- Cite as: Studenac retail chain financial restructuring. CLSTR, https://clstr.news/situations/studenac-retail-chain-financial-restructuring