Germans interested in failed Serbian footwear producer Boreli

The Board of Creditors of the Sombor-based bankrupt footwear factory, Boreli will decide this week about the new lessee of the factory’s premises.

As we have found out, a German footwear company, that used to cooperate with Boreli back in the day, has expressed interest and has sent its bid.

One of the conditions that the new lessee has to fulfill is to launch a production on the factory’s premises, and employ at least 50 of the former Boreli’s workers. Previously, the Belgrade-based company, Darfur expressed interest in leasing the factory but nothing came off it.

Boreli is the legal successor of the Boreli Company based in Vukovar, Croatia, which ended up in bankruptcy. In Serbia, Boreli has around 90 stores, and production and sale of footwear in Sombor began in 1997. There have been several attempts to sell the factory and certain Italian footwear manufacturers were mentioned as potential purchasers. However, since Croatia and Serbia have not signed an agreement on succession and the ownership transformation as yet, that did not happen.

There have been two evaluations of Boreli’s assets. The first evaluation took place in 2005, when it was estimated that the factory was worth around EUR 32 million. The second evaluation put the worth of company’s assets at around EUR 24 million.

The factory’s debts amount to around RSD 1.6 billion, and the bankruptcy proceedings were initiated in mid-May 2016.

(Dnevnik, 19.10.2017)             




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