SOFIA (Bulgaria), February 7 (SeeNews) – The Sofia Regional Court has declared KMB Bulgaria, the local operator of Carrefour supermarket chain, bankrupt as of October 31, 2016, according to the country’s commercial registry.
The court took its decision on January 23 based on a bankruptcy request filed by Sofia-based ENKO 2013.
KMB Bulgaria has accumulated 183 million levs ($100 million/93.5 million euro) in losses since 2011, which cannot be covered by its capital reserves, the court states in its decision.
KMB Bulgaria has an outstanding liability to Greece’s Alpha Bank, amounting to 17.5 million euro, the court decision shows. A debt of 6.6 million levs is owed to Bulgaria’s National Revenue Agency.
In 2016, private enforcement agents put up for sale two Carrefour supermarkets, located in shopping malls in Bulgaria's capital Sofia, seeking a total of 45.3 million levs over unpaid debts.
In June 2016, Greece's Marinopoulos Group, which holds the franchise rights for the Carrefour supermarkets in Bulgaria, filed for bankruptcy protection. At the time, the company owed 3 billion euro to more than 1,000 creditors.
(1 euro = 1.95583 levs)