Proleter sock factory assets for sale – Almost 900 million dinars for former Ivanjica textile industry leader

The bankruptcy administrator of the bankrupt AD Proleter from Ivanjica has announced the sale of immovable and movable assets, by units, through a public collection of bids, based on the decision of the Commercial Court in Cacak. The total estimated value of the assets offered in the first sale unit is around 881 million dinars, while the value of the second unit is estimated at slightly more than 6.3 million dinars.

The first unit covers the largest part of the assets of the former industrial complex and includes several business and production facilities in Ivanjica, including business service buildings, warehouses, production halls and auxiliary facilities, as well as a textile industrial building with an area of more than 3,600 square meters. This unit also includes auxiliary facilities, a substation, a reception area and warehouses, as well as construction land with a total area of more than 17,000 square meters, as well as equipment, supplies and vehicles located within the factory complex. The estimated value of this unit is 881,061,032 dinars, while the amount of the deposit for the participation is 176,212,206.40 dinars.

The second sale unit refers to a building with the associated land on a cadastral plot in KO Prilike, with a total sales area of 97 square meters, with a construction land of 182 square meters. The value of this unit is estimated at 6,307,382 dinars, and the deposit is 1,261,476.40 dinars.

The property is being sold as is, with the estimated value not representing a minimum or binding price, while the final decision on the selection of the bid will be made in accordance with the rules of the bankruptcy procedure and with the consent of the Creditors’ Board.

The deadline for submitting bids is February 12, and more details (in Serbian) can be found HERE.

Let us remind that, in April last year, the Commercial Court in Cacak issued a decision to open bankruptcy proceedings against the company Proleter a.d. Fabrika carapa Ivanjica, due to permanent inability to pay.

As previously stated, around 300 workers at the Proleter factory in Ivanjica have lost their jobs, after several unsuccessful attempts with representatives of the majority owner, the German company Atair GmbH, to find a solution and pay the workers back wages and sick leave.

The president of the Municipality of Ivanjica, Aleksandar Mitrovic, previously said that he was hopeful that Proleter would continue operating because there were those interested in buying the company out of bankruptcy.

I. Z.