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Alvarez & Marsal will try to save Croatian retail giant Agrokor

Staff Writer |
Crotian retailer Arokor announced its intention to appoint the leading independent global restructuring advisors Alvarez & Marsal (A&M).

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Headed up by Mr. Antonio Alvarez III, who is being proposed as CRO by the company, Alvarez & Marsal will help lead Agrokor through what is likely to be a complex restructuring.

This appointment has the support of the key creditors and the company. Alvarez & Marsal will be working to gain support of all stakeholders including suppliers, landlords and employees in the next few days.

Antonio Alvarez III is Executive Director for Restructuring at Alvarez & Marsal. He will lead a team of experienced advisors to begin the restructuring of Agrokor.

Their aim will be to secure the long-term viability of the business and to maximize value for all stakeholders.

“We will do everything in our power and work together with the key stakeholders to the greatest possible extent in order to safeguard good supplier relations and to secure jobs. We shall consider all the restructuring options available to us.” Alvarez said.

Alvarez & Marsal have a strong track record in restructuring companies facing similarly complex situations. The team’s focus will be to secure stability of operations and restore the confidence of all major stakeholders involved in the processes, primarily suppliers, creditors and employees.

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