The proposal for receivership was filed last November by Tomos employees after the company failed to pay their wages, contributions and the annual holiday allowance.

Since Tomos had neither contested being insolvent nor asked for a deferral, it is considered insolvent under the insolvency law.

"The court decided to send the debtor into receivership," says the court's decision, posted on the website of the Agency for Public Legal Records (AJPES).

The court appointed Štefan Veren the official receiver, giving creditors until 3 April to report their claims and secured debt.

When the workers filed for receivership, Tomos director and owner Iztok Pikl said the company could still be saved. However, he admitted it owed its employees two monthly salaries and the holiday allowance.

Pikl or his company MPO Kabel bought the manufacturer of motorcycles and scooters in 2015 from industrial conglomerate Hidria, which sold it as a non-strategic asset.

Hidria acquired Tomos in 1998, it briefly liquidated it in 2012 only to revive production later on.