The Slovenia Times

Bankruptcy Protection Launched at Tuš Group Members


Restructuring only concerns financial claims contained in the basic list of claims, reads the notice on the AJPES public company registry portal.

Introduced in Slovenian legislation as part of new insolvency law last year, preventive restructuring enables large and medium-sized companies which could become insolvent within a year to restructure debt in agreement with creditors and eliminate the causes of impending insolvency.

The bankruptcy protection was launched after the shareholders' meeting of Engrotuš endorsed transformation into a limited company, form a joint-stock company at the end of May.

The capital remains the same at EUR 55.54m, while stocks transformed into share capital, and Tuš Holding remains the owner. The company has three directors: Mirko Tuš, Tanja Tuš and Ivo Švrljuga.

Engrotuš's core business is retail, while it also comprises a chain of cinemas Planet Tuš, a chain of cosmetics shops Tuš drogerije, a catering division, bowling centres, billiard clubs and kid playrooms.

Engrotuš is part of Tuš Holding, which also includes the real estate division Tuš nepremičnine and mobile services provider Tušmobil. Tuš Holding employs almost 4,000 people in Slovenia, Bosnia-Herzegovina and Macedonia.

The third largest wireless provider, Tušmobil reported EUR 1.96m in net profit in 2013 on EUR 75.9m in net revenue in what was the first profit ever.

Fresh data from the market regulator shows Tušmobil saw the biggest increase in market share in the first quarter of 2014. Its market share by active mobile users rose by 0.3 percentage points on the previous quarter to 12.2%.


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