Student List: New Serbian Gov’t Will Urgently Present Measures to Stabilize Idea Supermarket Chain

Supermarket (Source: Pixabay)

The new Serbian government will present measures to stabilize the operation of Idea supermarkets and protect all participants in the supply chain urgently upon being formed, the Student List, which won a recent parliamentary election in Serbia, said in an announcement on Nov. 9.

In October, Idea was taken over by Alta Retail, whose owner Davor Macura is currently in detention on suspicion of having moved over RSD45 billion out of Alta Bank, which he also owned, with the assistance of accomplices.

"We consider the situation in the Idea Marketi company, whose takeover was conducted under suspicious circumstances, as a matter of great importance for the over 7,000 employees, over 600 suppliers, consumers and the overall stability of the retail market. The company is systemically important and has total revenue of RSD93 billion (EUR800 million), and a retail market share of over 15 percent," the Student List said in the statement.

In an atmosphere of elevated uncertainty, it is paramount to prevent an interruption to its operation and the fallout that would affect workers, domestic producers, vendors and the public, the statement noted.

The press release went on to encourage "the responsible, grounded and constructive approach by the vast majority of suppliers," who are owed more than EUR180 million and are still ready to support the stabilization of the company.

The statement stressed that it is necessary to thoroughly look into the circumstances surrounding the takeover of the company by Macura, the origin of the funds for the transaction and any ties between companies that had business relations with Alta Bank and the transaction of the acquisition and securing the funds for it.