Although the sale of assets, mainly real estate, to the bankrupt United Textile Industry has been repeated several times in recent years and at starting prices significantly lower than the original ones, there is no investment interest. The auction is expected to repeat on March 1, when a 43-acre plot located in the Skidra industrial area in Pella is scheduled to be sold for around 90,000 euros. Although the starting price for this particular property has been reduced by three-quarters from the average price of certified appraisers, it is highly doubtful that there will be a repurchase.
Currently, ENKLO’s list of industrial properties for sale includes former textile factories in Naoussa, Rodopi, Komotini, Alexandroupoli and Thermi. The bankruptcy trustee ENKLO is also looking for buyers for its equipment, which in the past has shown interest from countries such as Bangladesh and Egypt, but due to bureaucratic obstacles, the process has not gone forward.
In accordance with the bankruptcy law, assets that have not received the highest price in successive auctions become the property of the state. This risk also exists for the assets of ENKLO, which was declared bankrupt in July 2012.
The reopening of the ENKLO spinning and ginneries was considered a priority by the previous government, which pinned hopes on the reopening of the industry based on the existence of the Aiglon Foundation, whose legal representative was arrested, tried and acquitted in the fall of 2017. A special fund based in Luxembourg is reported to have a €100 million investment plan to rebuild the textile industry. However, he never managed to play the role of a “white knight”, buying up ENKLO equipment and property at auction with the aim of rediscovering it.
With this data, those who follow the sale of industrial real estate turned their attention to the auction of the assets of another company, Klosteria Thrace, scheduled for Wednesday, January 25th. And that’s because, according to the information, there is supposed to be an over-the-top candidate.
Source: Kathimerini
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