There is no guarantee that
indebted Croatian food group Agrokor can be saved,
the restructuring expert appointed to rescue the business said
on Tuesday, describing the challenge as one of the toughest in
his career.
“Time is of the essence. The situation is pretty acute,”
Antonio Alvarez III told a news conference to unveil his team.
“There is no guarantee we will succeed. This is one of the
most challenging situations that we are going to face.”
Agrokor, Croatia’s largest private company and the biggest
food producer and retailer in the Balkans with some 60,000
employees, has struck a deal with six lenders led by Russia’s
Sberbank and VTB to freeze repayments and
get an unspecified…
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