The Žiri-based company filed a proposal for court-mandated debt restructuring at the end of June, after it failed to agree on debt restructuring with the creditor banks.

Alpina director Matjaž Delopst told the STA on Thursday that the debt restructuring will not involve suppliers but only the four financial claimants.

The Kranj District Court appointed yesterday the official receiver, who will meet the Alpina management already on Friday morning.

The main role in the debt restructuring proceedings, which envisages that between EUR 5m and EUR 15m in debt will be converted into equity, is expected to be played by the Bank Asset Management Company (BAMC), which already holds some of the claims towards Alpina.

According to Delopst, the footwear maker could pay off half of its debt to banks in the next ten years. His expectations are based on this year's results and future plans, which project a 3-5% annual growth.

In the first five months of 2014, Alpina generated EUR 16.9m in sales revenues, almost 10% more than in the same period last year. It reduced operating loss from EUR 880,000 to EUR 516,000.

The Slovenian part of the Alpina group is expected to finish the year with EUR 49.6m in sales revenues and a EUR 1.2m operating profit. Net profit is expected to stand at EUR 340,000.