Croatian food and retail consortium Agrokor has announced that its total debt amounts to HRK 40.41 billion (€5.44 billion) as of the end of March 2017.
The largest segment of this debt is to to financial creditors, amounting to HRK 24.5 billion, including a HRK 2.95 billion debt to secured creditors such as banks.
Non-banking debt and financial leasing totaled HRK 1.99 billion, excluding HRK 1.377 billion in secured liabilities.
Claims by unsecured creditors stands at HRK 21.48 billion, of which HRK 21.17 billion was debt to banks and bonds (the biggest being Sberbank with HRK 8.169 billion).
Agrokor, which recently undertook a restructuring of its operations, had HRK 7.34 billion in uncollected bonds and HRK 614 million in European commercial bills fall due in June and August 2017. Due interest amounted to HRK 406 million and included only the liabilities of Agrokor's 19 largest companies.
The existing consolidated debt does not include the group's liabilities to Slovenian retail unit Mercator and its affiliates.
According to the company, data was not audited and was derived from internal management accounts and, as thus, is subject to review in the extraordinary administration procedure.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine
