"Pevec transport" in bankruptcy

The Court of Commerce in Bjelovar has declared company "Pevec transporti", a member of "Pevec Group", bankrupt since the company's account is blocked for more than 60 days because of the debt of about 97m HRK (13.3m EUR).

"Pevec transporti" has 188 employees, mainly drivers, and the bankruptcy was initiated at the request of certain number of workers in November 2009.

Bankruptcy in "Pevec Group" was initiated at the end of December 2009 due to impossibility of that fallen market chain to find strategic partner that would invest 300m EUR in the group.

The debts of "Pevec Group" amount to 82m EUR.

The accounting value of "Pevec transporti" is about 53m HRK, while the company's obligations amount to 72m HRK (9.86m EUR).

After the bankruptcy was declared yesterday, the workers are going to be laid off and sent to Croatian labor market.

The claims of 188 employees range between 30,000 and 35,000 HRK (between 4,110 EUR and 4,795 EUR) per employee.

"Pevec transporti" owns only 15 vehicles, while the rest of the property was rented, and the property should be sold in order for the costs of bankruptcy to be paid, as well as three salaries to workers.

Trade center "Pevec" in Serbia, as its CEO Dragan Malinović announced, should not go bankrupt because the negotiations will be led with OTP Bank as the biggest creditor on restructuring of that trade center in Belgrade.