Who is the richest person in Slovenia

The richest Slovenian has financial problems

Mirko Tus runs shopping centers, petrol stations and cinemas. He also has his own cellular network. But the company grew mainly on credit. Now the banks are applying pressure.

The unprecedented decline of Slovenian flagship companies apparently does not stop at the richest man in the country, Mirko Tus. As the Ljubljana daily newspaper "Dnevnik" reported on Thursday, the conglomerate "Tus Holding" is in financial difficulties. The banks gave Tus a period of three months to restructure and sell company shares. Tus is the third largest retailer in the country, operates shopping centers, gas stations and cinemas and also has its own cellular network ("Tusmobil").

Mirko Tus has been the richest Slovene for years. In the previous year, the monthly magazine "Manager" estimated his fortune at 340.6 million euros. In recent years, however, his group of companies - like so many other Slovenian companies that have skidded in the wake of the financial crisis - has grown primarily on credit. According to "Dnevnik", the banks are now demanding that Tus concentrate on its core business in the future and above all separate itself from the mobile communications division, but also from petrol stations and cinemas ("Planet Tus").

Problems paying the suppliers

The Tus leadership denied the "Dnevnik" report in a broadcast. At the same time it was admitted that "regular coordination with the banks on open questions" is being carried out. Tus is "a successful international company" that has been growing for 20 years and is one of the largest retailers in the region. The company did not want to comment on the question of the allegedly unsuccessful sales process surrounding Tusmobil. The Slovenian media had already reported in August of an imminent sale of the mobile communications company with 170,000 customers to an international group.

According to "Dnevnik", Tus is also currently struggling to pay its suppliers. The payment deadlines have been extended by more than a month in some cases, and the company has sometimes also offered payment in kind - such as fuel. In the previous year the Tus Holding posted a loss of 29 million euros. Capital assets of EUR 73 million were offset by liabilities of EUR 670 million. The biggest hole in the cash register was torn by the mobile communications division, which was able to double sales to 72 million euros, but made a loss of 25 million euros.

"Shame on Slovenia"

The economic crisis has already driven the Istrabenz conglomerate, which had also taken over by excursions into other economic sectors, into bankruptcy. The case of the construction company Vegrad is currently causing a stir, as it has not paid hundreds of employees - mostly from other ex-Yugoslav republics - for months. As of Thursday, you are officially unemployed and can apply for money from the insolvency fund. Most workers will apply for the maximum amount of 1900 euros and still fall over to wage demands on the company.

The Slovenian Prime Minister Borut Pahor ordered an investigation into the bankruptcy case on Thursday and spoke of a "shame for Slovenia". The Slovenian state also holds minority shares in Vegrad.