Croatia's largest grocery chain seeks pre-bankruptcy protection after rapid debt-driven expansion

Studenac, the country's largest grocery network by number of shops, has applied for pre-bankruptcy protection following an eight-year expansion that tripled its store base and left it struggling to meet supplier payments. The company expects the Split Commercial Court to start the case within the legal deadline after its bank account was frozen. It seeks to renegotiate its obligations with lenders, suppliers and other creditors while maintaining operations.

Court documents reveal a large debt load and overdue supplier bills, with cash reserves insufficient to cover upcoming payroll and restocking needs. The retailer forecasts significant supplier payments in the next month but lacks the liquidity to meet them, prompting some suppliers to halt deliveries and the closure of several stores. The move marks the most significant test of Croatia's grocery sector since the Agrokor collapse in 2017.