The plan entails a conversion of claims toward the group by what are predominantly state-owned creditors, such as the Bank Asset Management Corporation and the SID bank, by 22 May.

According to Cimos, which has been selling off non-core businesses, the conversion is to be followed up by a restructuring of EUR 180m in debt.

Cimos, which employs 7,000 workers, declared insolvency in early March.

The company also released its 2013 business results today.

The figures show that its long-term liabilities increased from EUR 101.6m at the end of 2012 to EUR 103.6m at the end of 2013, while its short-term liabilities went from EUR 243.8m to EUR 294.6m.

The group's long-term liabilities were however reduced from EUR 185.9m at the end of 2012 to EUR 179.6m at the end of 2013, while its short-term liabilities increased from EUR 383.3m to EUR 430.7m in the same period.

The group generated a loss of EUR 122m last year, compared to EUR 97.9m the year before. The core company nearly doubled its loss from EUR 74.2m in 2012 to EUR 137.5m in 2013.

The group's sales revenue dropped to EUR 410.7m from EUR 417.5m in 2012.

Its earnings before interest, taxes, depreciation, and amortization (EBITDA) were at EUR 16.1m last year, significantly lower than EUR 55.4m in 2012.

The group's operating revenue dropped to EUR 409.9m in 2013 from EUR 445.6m the year before. The automotive group also logged an operating loss of EUR 100.8m, much higher than EUR 59.4m the year before.

The results of the core company are somewhat more optimistic. Its operating revenue increased from EUR 388.5m in 2012 to EUR 424.m in 2013. The company also increased its sales revenue, which went from EUR 386m to EUR 425.7m.

The company posted an operating profit of EUR 4.8m last year, slightly higher than the EUR 4.7m the year before. It however posted a negative EBITDA at EUR 19.1m, which was however better than the negative EBITDA of EUR 25.7m the year before.

TV Slovenija reported in March that Cimos, one of the few companies that boast revenue growth in what is a troubled period for the car industry, allegedly had work secured for the coming seven years, but that it recorded a loss of more than EUR 130m last year.

Cimos received a state guarantee worth EUR 35m in mid-2013 in an effort to save thousands of jobs in Slovenia.