Will Fico buy out Carrefour’s debts in Slovakia, too?

8 April 2016

Carrefour is trying to get the Slovak state to wipe off a portion of its debts the way it did for the construction company Váhostav. Slovak Prime minister Robert Fico seems to have set a precedent when he offered that the government pay out a portion of the claims of unsecured creditors of the contractor, which has been in restructuring since last year. The operator of the loss making Carrefour hypermarket chain in Slovakia, Retail Value Stores, is now trying to save its business and wipe out its debts through restructuring. The chain owes money to its suppliers, who now demand that the government provide relief. The creditors have now one month to submit their claims. The total value of the claims has not been unveiled. Trend.sk writes that by the end of 2014, Carrefour debts in Slovakia amounted to €19m.

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