Simpo files for PPRP

The Vranje-based company Simpo filed a proposition for the settlement of creditors' claims through a pre-packaged reorganization plan, as well as a recovery plan, with the Commercial Court of Leskovac, eKapija learns at the company.

– For a few years now, the company has been facing serious problems regarding the maintenance of current solvency due to the blockage of the current account and the constant withdrawals of the funds for the purpose of settling liabilities incurred five, ten, even thirty years ago. On that basis alone, the company has settled liabilities towards various creditors in the amount exceeding RSD 4.3 billion in the period from 2015. This setting aside of the funds from the current inflow in order to settle old debts seriously impairs current operations and makes the realization of a part of consumer demand, as well as the maximum engagement of production capacities, impossible – Simpo told our portal.

The Vranje-based company filed for the PPRP on March 30, 2018. As they say, they have not been notified as to whether the proposition has been upheld and if the procedure, which will take at least six months, until the decision of the adoption of the PPRP is made final, will be initiated.

Simpo says that they decided to file for the PPRP “in order to avoid further deterioration of current operations due to old liabilities and to protect the interest of the creditors”.

They point out that the aim of all the steps they've taken is “to secure stable and healthy operations and a safe future in the market of furniture and interior equipment”.

– The upgrade of the production program, the expansion of the sales network and the penetration of new markets are only some of the development goals we are continuously working on. On Saturday, April 13, we opened a new outlet in Sarajevo on 600 m2. We have contracted exporting jobs and hotel equipping jobs for the next 6 months. We are currently equipping three hotels in the region, and the latest hotel equipped by Simpo is Mama Shelter Belgrade, which opened last month – they add at Simpo.

Let us remind that Simpo employs 2,500 people and has its own logistics and a retail network of 48 outlets in four countries.

Simpo a.d. Vranje

Privredni sud u Leskovcu

Vlada Republike Srbije

Ministarstvo privrede Republike Srbije

Poreska uprava Srbije

Pre Packaged Reorganization Plan Simpo

PPRP Simpo

Simpo debts

Simpo operations

Simpo results

Simpo creditors