The Croatian food distribution group Studenac has launched a comprehensive restructuring plan to contain operating costs, restore financial stability, and ensure business continuity. The restructuring, which is part of pre-insolvency proceedings, involves the closure of numerous stores, a significant reduction in administrative and logistics staff, and the cessation of its wholesale operations as an independent division.
According to HRT, the initial plan called for the closure of 104 stores, affecting 335 employees, who were offered the opportunity to relocate to the still-operating facilities. However, a subsequent company announcement revised the number of closures to 79, identified through an analysis of the network's economic sustainability.
The reorganization also affects administrative offices, with a reduction in staffing of approximately 40%, equivalent to 185 positions. The logistics division will also see a reduction of 348 positions, while retaining 181 warehouse and distribution employees. Studenac is evaluating alternative employment opportunities for the affected personnel in collaboration with external agencies and logistics partners.
One of the most significant changes concerns the overhaul of the distribution system, which until now has been based on a centralized model deemed economically unsustainable for a network specializing in local retail. The new organization provides for 75% of goods to be delivered directly from suppliers to stores, while the remaining 25% will continue to transit through company warehouses.
The centralized logistics facilities will focus primarily on fresh produce, fruit and vegetables, frozen foods, and certain packaged food categories. According to the company's estimates, this transformation will generate annual savings of approximately €16 million.
Teo Vujčić has taken over the management board, tasked with coordinating the group's relaunch through a leaner organizational structure and a sales network commensurate with the company's financial capabilities.
The crisis is also linked to difficulties in relations with suppliers, to whom Studenac has accumulated debts of approximately €60 million. The pre-insolvency procedure, officially initiated by the Split Commercial Court on September 29, 2026, requires creditors to submit their claims to the Croatian financial agency FINA by October 28. A restructuring plan will then be prepared and submitted to the creditors for a vote and a final decision by the court.
Studenac, controlled by the Enterprise Investors investment fund since 2018, had undertaken rapid expansion in recent years through acquisitions and new store openings. In 2024, the group also entered the Slovenian market with the acquisition of the Kea chain. The restructuring now marks a shift in strategy, with the priority placed on restoring profitability and rebuilding supplier and creditor confidence.
