The Slovenian government has set up an interdepartmental group to come up with a model for the transformation of financially troubled food retailer Tuš.
The survival of the country’s third-biggest retailer is seen as being of key importance for the Slovenian economy, due to its strong reliance on domestic food suppliers.
"We will prepare a study on the consumer cooperative model that could operate in Slovenia, as such models are very successful, for example, in Spain and Italy," state secretary Tadej Slapnik told local daily Delo.
If Tuš does not reschedule its €380-million debt with the banks by the end of January 2016, the state would then step in and help transform the company into a consumer cooperative, to mitigate the consequences of a possible closure, Ministry of Economy sources added.
The initiative to transform Tuš into a cooperative is also supported by the Slovenian Chamber of Commerce.
Celje-based Tuš is part of Tuš Holding, with activities in the FMCG retail, entertainment, recreation, hospitality and property sectors. It is owned by Slovenian businessman Mirko Tuš.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.