Bankruptcy in Sremska Mitrovica-based "Šećerana"

Since the Bankruptcy Manager failed to provide 663m RSD for repayment of debts to creditors, the Court of Commerce in Sremska Mitrovica has declared bankruptcy in local sugar plant. Now the property will be evaluated and sold in order for certain share of debts to be repaid.

"Šećerana", former pride of Srem and one of the oldest sugar beet refining factories in Vojvodina, will enter the history. The fall of the factory commenced shortly after the privatization, five years ago. Soon after the bad campaign in 2008, the bankruptcy proceedings were introduced. The first move was dismissal of all 265 workers.

The owners of "Šećerane" have postponed bankruptcy two times, announcing that they have a plan for continuation of production. In the meantime, the debts have grown and the creditors grew impatient.