September 30 (SeeNews) - Croatian holding company Djuro Djakovic Grupa [ZSE:DDJH] said its unit Djuro Djakovic Industrijska Rjesenja d.d. has filed for bankruptcy.
“Following an announcement from July 13, 2021 that business accounts of Djuro Djakovic Industrijska Rjesenja were blocked, we inform the investment community that the management of the unit has submitted a proposal to the court to launch bankruptcy proceedings,” the holding company said on Wednesday in a filing to the Zagreb bourse.
The basic activity of Djuro Djakovic Industrijska Rjesenja is the development, design, engineering and manufacturing of industrial machines, parts of industrial machines and steel structures.
At the beginning of this year, the company reached a pre-bankruptcy settlement agreement with its creditors but has failed to cover its liabilities since then.
In mid-July, the holding company said that Djuro Djakovic Industrijska Rjesenja had less than 17 employees and contributed less than 5% to the consolidated operating revenue of the group in 2020.
Djuro Djakovic's shares traded at 4.05 kuna on Thursday morning on the Zagreb bourse, down 1.22% compared to the previous closing price.
(1 euro = 7.498 Croatian kuna)