Slovenia's Merkur saved again by creditor banks

Creditor banks have saved Merkur from bankruptcy for the second time.
The program of financial reorganization that called for the conversion of minimum EUR 46.5 million worth of debts is signed by all banks, including Dezelna banka Slovenije (DBS), Tanjug news agency cited the web portal Seebiz as reporting.

The deadline to put a signature expired at midnight on 9 June 2014, and Merkur would have to go bankrupt if creditor banks failed to give their consent.

By the way, the parent company Merkur still has to repay loans totaling EUR 250 million, whereas the entire group owes EUR 450 mil EUR.

Merkur Group Naklo

Merkur

Dezelna banka Slovenije

DBS

bankruptcy

debt

debts

debt conversion