Studenac Faces Blockade with 450 Million Euros in Debt
7 Articles
7 Articles
RETAIL chain Studenac, after aggressive expansion, is facing a debt of 450 million euros, losses and an uncertain future, despite revenue growth.
The company has no comment on financial problems and potential blockade.
Studenac increased its bank debt by almost 47.7 million euros last year alone, profitability fell, employee costs increased by 19.6%, revenues by 12.5% (to 854.4 million euros), rents from 32.3 to 39.4 million euros...
Croatian retailer Studenac, which has expanded rapidly in recent years, is facing increasing financial pressure. Revenue is growing, but the company made a loss of 30.6 million euros last year and debts have approached 450 million euros.
Until recently, in the Split neighborhood of Bol, there were two Studenac stores within a few minutes' walk of each other, a larger one on Domovinskog rata Street and a smaller one on Dubrovačka Street. Both have closed, the latter less than a month ago. It's not that there's a shortage of Studenac stores or stores in general in Split, but it's the same for many...
The Studenac company, which has rapidly developed and expanded in recent years and today represents the company with the most individual grocery stores in Croatia, has been owned by the Polish private-equity fund Enterprise Investors, namely its Polish Enterprise Fund VIII, since 2018.
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