The Slovenia Times

Mercator suppliers assured business to continue unhindered


The radio report quoted Izidor Krivec, director of meat processing company Celjske mesnine, as saying that Mercator was not having any liquidity problems that would affect its solvency.

At the meeting the suppliers were given the reasons for the grocer's loss, but were told that the company's operations were stable nonetheless.

"According to assurances from the Mercator management, payments will continue to be settled within the normal time frames as so far," said Krivec, the head of the creditor committee bringing together suppliers of Mercator's Croatian parent Agrokor.

Mercator posted a group net loss of EUR 72.7m last year, after generating a net profit of EUR 20.2m the year before.

The loss was attributed to store refurbishment, efforts to boost competitiveness and impairments of claims to companies in the Agrokor group.

Last week Slovenian suppliers also got assurances from Agrokor crisis manager Ante Ramljak that their claims against Agrokor, estimated at between EUR 40m and EUR 50m, would be settled on equal basis with the rest.

Krivec told Radio Slovenija today that the suppliers would report the claims dated by 10 April, whereupon they would be assessed by the creditor committee.

According to Ramljak's assurances, business after 10 April would run as per usual payment terms, because the financial funds were available.

The suppliers are optimistic and most have decided to continue to do business with Konzum, the other retail arm of the troubled Croatian food conglomerate.


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