Zastava from Kragujevac, Giant of former Yugoslavia, shutting down?

zastavaThe Commercial Court in Kragujevac opened the bankruptcy over the company “Zastava automobili AD” because of permanent disability of payments and debt,” as reported by the agency Beta.

The company has commitments of almost 500 million EUR, and account is blocked for 701 days for over 800,000 EUR.

In front of the City Assembly, during the hearing, started protest of former workers of the factory, and authorized agent of about 300 former employees of the giant of former Yugoslavia Radisa Pavlovic said that the debts to workers for the period from 1997 to 2001 amounted to about 800,000 EUR. He said that bankruptcy was deliberately organized by a criminal group at the expense of workers.

Workers have announced radical protests.

Factory currently has 3 employees, and it had a total of 13,500 workers in 1989. Zastava was producing 220,000 vehicles in its golden period.

(Source: klix.ba)


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