April 25 (SeeNews) - Croatia's troubled food and retail concern Agrokor said on Tuesday it has chosen consulting firm AlixPartners to advise it on the company's restructuring.
AlixPartners was selected after a public call for restructuring consultants, which was also answered by international companies McKinsey, BCG, EY, KPMG and Roland Berger, Agrokor said in a statement.
The extraordinary administration of Agrokor evaluated the bids and recommended the one submitted by AlixPartners as the most favourable, but the final decision was made by Croatia's economy ministry.
"AlixPartners, as one of the leading global restructuring advisors, is expected to make an important contribution towards the stabilisation of Agrokor's business operations and its successful restructuring," the concern noted.
AlixPartners was founded by Jay Alix in 1981 in order to handle the turnaround of Electrical Specialties Co., and has since moved into a more traditional consulting space. Today, AlixPartners operates in 17 countries and 27 locations around the world.