Boreli, a company that declared itself the legal successor of Borovo in Serbia in the early nineties, is once again raising dust around the sale of stores that are legally owned by the Croatian shoe manufacturer.
Boreli’s director Mirko Vujanović emphasizes that Borovo is forcibly seizing stores širom Serbia even though they have already been sold at public auction, and now the entry of new owners, tamošnjih poduzetnika, into the possession of the purchased stores is being obstructed. Boreli acquired approximately 110 Borovo stores with complete inventories in the nineties, and Borovo has managed to sell about ten stores so far. The value of the remaining assets in Serbia is estimated by Borovo’s director Mirko Ćavara at 12 to 15 million euros. The previous sale of Borovo’s assets was facilitated by Annex G of the Succession Agreement, but last year’s regulation by the Government of Serbia has halted it until further notice. (M. B.)
