Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
At a hearing at the Commercial Court in Zadar fish processing factory Adria from Zadar was declared bankrupt.
The factory is situated in Zadar's seaport-industrial zone and spreads over 70 000 m² of terrain. Some of its facilities include private harbour, refrigerated warehouse, modern equipment for sardine production, facilities for processing large fish, facilities for salting fish and fish flour production. Unfortunately, due to bad management it lost market position and of 500 employees, there remained only 119 prior to the bankruptcy announcement. All are likely to lose their jobs.
The company has the property that, at the last evaluation, worth about HRK million 113 (€ million 14.7) equipment worth about HRK million 32 (€ million 4.2) and claims in the amount of about HRK million 30 (€ million 3.9), but its liabilities are more than HRK million 83 (€ million 10.8).
Eurofound (2015), Adria, Bankruptcy in Croatia, factsheet number 78642, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78642.