Business News


Five of Six Peko Supervisors Step Down

Tržič, 31 May (STA) - Five out of six supervisors of state-owned footwear maker Peko tendered their resignation late on Thursday, reportedly because no solution for the company is in sight. Chief supervisor Robert Ličen told public broadcaster RTV Slovenija that they got no crucial information on the company from management or owners for six months.

Ličen said this kind of attitude to the supervisory board had continued during the selection of a potential buyer and continued now as well.

"In these difficult times, when 350 people at Peko do not know what will happen to them, the owners - neither the state nor politics - have asked the supervisors for any information or help. The supervisors can thus no longer actively do their jobs," he explained their decision.

Peko, once a flagship Slovenian company and a market leader in the time of the former Yugoslavia, got into deep financial problems in recent months.

State representatives and other owners met several times but have so far failed to find a solution for the company, whose problems mount every day despite orders.

The management does not plan to declare insolvency until the state and the owners decide on further measures.

After the sale to Croatian Osimpex fell through, Peko is now in need of EUR 2.5m in state guarantees.

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