Business News

Auction of Aha Mura Assets and Brands Fails

Ljubljana, 28 October (STA) - Tuesday's auction of assets and brands of clothing company Aha Mura failed as no bidders showed interest even in the starting price of EUR 4.6m. Another auction is expected to be called for January, at which the price for the bankrupt offshoot of former clothing giant Mura could be lowered by two-thirds.

As part of the receivership procedure, the Murska Sobota district court has put on sale the land, machines and equipment as well as the protected Mura brand and unprotected eMura brand.

According to receiver Stevo Radovanović, there has been substantial interest for Aha Mura assets, but potential buyers are still collecting appraisal information and are waiting for the price to be lowered.

Radovanović said that potential buyers, who mainly come from the Arab world, China and France, are not interested in land, but in production, as Mura has very good references.

According to him, there is enough work in Aha Mura, which currently employs 456 people, until the end of January. This does not include orders for Hugo Boss, which terminated cooperation in September.

Hugo Boss decided for the move because Aha Mura did not meet the German company's demand for modernisation of Mura's subsidiary in Serbia. The Prvi maj plant still employs 1,300 people, who are on strike, 16 of them on hunger strike.

Radovanović believes that the decision of Hugo Boss to terminate cooperation with Aha Mura is not yet final. If the cooperation is renewed, he expects that this would bring an additional 100 jobs to Murska Sobota.

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