Borovo CEO Mirko Cavara told Hina on Monday that it was selling 15 outlets in Bosnia-Herzegovina, seven in Serbia, Montenegro and Kosovo, and 19 in Macedonia. He added that nine outlets in Croatia were also on sale.
Tenders will be collected until 10 February this year.
Cavara said that since the disintegration of the Yugoslav federation, the company has not had control of its outlets in Serbia, Kosovo and Macedonia.
As we have no benefit from those business facilities we have decided to offer tenders for sale to solve this problem, Cavara said, adding that the company was prepared to solve its ownership problems in court.
The Borovo management believes that the sale of the outlets could bring about seven million euros to the company.
Another reason for the sale is the assessment that the outlets in question are not functional for the further development of the company.
Before the war, Borovo employed about 22,000 workers and manufactured some 20 million pairs of shoes annually. The company currently employs about 1,100 workers with the annual production of several hundred thousands pairs of footwear.