Germany’s Stumpp & Baier is sole bidder for Boreli

German company, Stumpp & Baier was the only company to submit a bid for acquisition of the bankrupt Sombor-based footwear producer, Boreli.

The German company, which was a long-standing partner to the Sombor company, offered 3,000 EUR a month to lease Boreli’s factory. Germans also agreed to employ a substantial number of former Boreli’s workers.

Boreli’s Board of Creditors is yet to comment on the offer from Stumpp & Baier.

Since the creditors have not show up at any of the company meetings, the workers suspect that they are abusing their position and are more inclined to extend the lease of the former leasee, the Belgrade-based company Darfur. To remind, Boreli terminated the contract with Darfur because the company failed to fulfil most of its contractual obligations.

Darfur also owes one salary to workers, and has failed to pay income taxes and contributions despite being given 3.6 million dinars in incentives to hire 20 people

Darfur signed a business and technical cooperation contract with Boreli in May this year. The contract was subsequently terminated in September this year, and the production in Boreli stopped.

Following the disintegration of former Yugoslavia, Boreli was declared a successor of the Croatian company, Borovo which was founded in 1931, and was one of the biggest companies in ex-Yugoslavia. Back then, Borovo had 23,000 employees and produced 23 million pieces of footwear, 580,000 car tires, and 12.500 tons of various rubber products annually.

(Dnevnik, 30.10.2017)


This post is also available in: Italiano

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