Home / Media and Publications / Creditors of Pevec Propose Bankruptcy with Reorganization

Creditors of Pevec Propose Bankruptcy with Reorganization

The management of Pevec will prepare a new proposal for resolving the situation in the company by Monday and offer it to creditors in order to avoid bankruptcy, said the CEO of Pevec, Josip Baotić. He stated that it was agreed at yesterday’s meeting of the creditors of the Pevec group and the union to propose bankruptcy with reorganization.

Baotić said that the owner of Pevec and the management must consider this proposal and that they will respond to it by Monday, or offer another proposal for resolving the situation. It is in everyone’s interest, he said, to cause as little damage as possible, that is, to continue business and preserve as many jobs as possible. The company Pevec is facing significant financial problems. About 150 workers of the Pevec group protested on Monday in front of the shopping center in Jankomir, demanding payment of salaries for September and October. According to union estimates, salary arrears amount to about 4.5 million kuna per month. (H)