Croatian food manufacturer Agrokor has announced the appointment of advisors Alvarez & Marsal (A&M) to assist with the company's restructuring process.
Agrokor, which also operates the Konzum chain, said that the appointment of the advisors has the support of key creditors, who will assist with what is likely to be a complex restructuring.
"Alvarez & Marsal will be working to gain [the] support of all stakeholders, including suppliers, landlords and employees, in the next few days," the manufacturer said.
Maximise Value
Antonio Alvarez III, executive director at A&M, will lead a team aimed at securing the long-term viability of the business and maximising the value for all stakeholders.
“We will do everything in our power and work together with the key stakeholders to the greatest possible extent in order to safeguard good supplier relations and to secure jobs," Alvarez commented. "We shall consider all the restructuring options available to us.”
A&M employs more than 2,900 staff at 45 offices across 18 countries. It claims to have a strong track record in company restructuring.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
