Bulgaria's Emblematic Cosmetic Factory to Be Listed for Sale

Business | February 2, 2012, Thursday // 11:30|  views

"Alen Mak" is Bulgaria's oldest cosmetics factory. Photo by ideal.bg

Bulgaria's cosmetics factory "Alen Mak," functioning since the times of the Socialist regime, will be listed for sale in just days.

The news was reported Thursday by the factory's syndic, attorney Stefan Georgiev, cited by Darik Radio. Georgiev said that the expert evaluation of the factory's assets and liabilities is expected in a couple of day.

The minimum price will be EUR 10 M which should cover the bond loans and expenses.

"Alen Mak" has outstanding debt of EUR 5.7 M to a large number of creditors such as retirement and mutual funds, two banks, suppliers and even workers with unpaid salaries.

Machines, other equipment, buildings, the land and the brand names of the factory will be sold only together.

Creditors have asked the patent institutions to terminate "Alen Mak's" right on five brand names which include a baby shampoo, whitening lotion, toothpaste, shaving foam, and hair color.

The attorney team, working on the licenses revocation, informs the brand names will be reinstated by the end of March.

According to electronic registries data, cited by dir.bg, the rights on some of these brand names belong partially to the offshore company VVPP Investment, registered in Lichtenstein, with headquarters in the Bulgarian capital Sofia.

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Tags: Alen Mak, cosmetics, factory, sale, syndic, debt, brand names


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