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Insolvency managers sell Slovenia's Brest factory for 4.6 mln euro - report

Author Radomir Ralev
Insolvency managers sell Slovenia's Brest factory for 4.6 mln euro - report Source: Brest

LJUBLJANA (Slovenia), January 7 (SeeNews) - Slovenian furniture company Brest's insolvency administrators sold its factory at an auction for 4.6 million euro ($5.2 million), local media reported.

The payment deadline is three months and the contract must be signed within three working days, public broadcaster RTV quoted insolvency administrator Andrej Razdrih as saying on Thursday.

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The buyer showed up at the last minute, as none of the potential bidders had paid the deposit by Wednesday morning, but no information about its identity was disclosed, RTV reported.

The initial price for the 63,000 sq m complex, including machinery and equipment, was set at 5.1 million euro at the beginning of last year, RTV said.

Brest entered insolvency proceedings in December 2016 when it had a workforce of about a hundred employees. The insolvency administration acknowledged 14.7 million euro of debt to creditors.

($ = 0.8844 euro)

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