Slovenian Merkur leaving Serbia

(Photo: merkur.eu)

In less than a month, Merkur’s last Belgrade outpost in Bezanijska Kosa will close down too, as has been confirmed to Blic unofficially by the company which used to employ 500 people in Serbia. Half a year ago this mall closed down its retail store in Karaburma as well, and at the end of last year, Merkur in Novi Sad closed down too. Blic source says that Merkur got a new owner in Serbia, a logistics company from Novi Sad, and that the decision to close down the retail store and all the job positions was made by it.

Formerly one of the strongest and fastest growing companies in Slovenia, it started experiencing hardship in 2010. The crisis hit its most significant purchaser, the construction industry, and the problems continued through the privatization in which its management was involved. Ex-manager of Merkur Bine Kordez is serving a five-year sentence for corporate crime. The company was facing bankruptcy in 2014, but it was saved in the last minute by the banks which agreed to turn the debts owed to them into the ownership of Merkur.