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Irena Weber for HRT: every segment of Agrokor is showing a strong recovery trend

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Irena Weber, Deputy Extraordinary Commissioner for Agrokor was s guest in Croatian national television (HRT) show “Dobro jutro Hrvatska” and during the talk in the studio she commented the Extraordinary Administration process in Agrokor, pulling the system out of the crisis and plans for the upcoming year.

“We have arrived in a fairly complex situation, there was no time for adjustment. We immediately got to work and started communication with key stakeholders in order to start the negotiations process and to have it completed within the legal deadline – 10 July”, Weber looked back on early March of this year when she and Fabris Peruško, Extraordinary Commissioner, took over the Extraordinary Administration in Agrokor.

Weber highlighted that today, a year and a half after the procedure was initiated, all of Agrokor’s segments are showing good results. “Every sector is showing a strong recovery trend and we expect even better results in 2019. Currently Agrokor group has no due but unpaid invoices. Everybody is paid on time, in line with the due dates which gives the suppliers the freedom and possibility to manage their financial flow”, Weber said. She added that she considers unfounded the speculations in the media that a consortium is being founded that will take over shares in Agrokor, that were never confirmed by any of the mentioned parties.

“However, the story about the interest says by itself how Agrokor became an attractive target and how good of a restructuring job we did in line with the Act on the Extraordinary Administration and then the settlement itself.” She added that Extraordinary Administration plans to set up the implementation plan in full by the end of the year and then to realize what was agreed by the creditors in the settlement. “We expect that the entire process will be completed in March 2019”, said Deputy Extraordinary Commissioner in Dobro jutro Hrvatska.