Suppliers take oversight of Idea Markets as enforcement claims begin

Serbian retail chain Idea Markets, which operates more than 300 stores and employs about 7,700 people, is under intense financial pressure after the bankruptcy of Alta Bank and the detention of its ultimate owner, Davor Matura. While major suppliers have agreed to help keep stores supplied, several firms have already launched enforcement actions to collect outstanding claims.

Court filings, supplier oversight and looming liabilities

Between 3 and 6 November several enforcement proceedings and a single civil case were initiated against Idea Markets at the Commercial Court in Belgrade, records show. Four smaller suppliers have sought recovery of a combined 45.9 million Serbian dinars (roughly €392,000), and a large confectionery producer has begun collection for €1.07 million.

Those moves come at a difficult moment for the retailer: last year the chain reported revenues of about €790 million, but its accounts also show a loss of around 4 billion dinars and a sharp rise in long-term provisions and liabilities from 17.3 to 26.6 billion dinars. At the end of 2025 long-term bank loans stood at 20.8 billion dinars, while short-term liabilities reached 26.6 billion dinars. Of the short-term obligations, some 17.2 billion dinars — roughly €147 million — are owed to domestic suppliers.

After the fallout linked to Alta Bank, Idea Markets' management met with about 20 key suppliers and secured a package of measures to keep the chain operating. Among the agreements: suppliers will temporarily refrain from activating promissory notes held as guarantees, and one large company reportedly withdrew previously activated promissory notes to give the retailer room to stabilise liquidity.

Suppliers also agreed to appoint their own representative who, together with the company’s management, will monitor payments to suppliers and other financial matters. Idea Markets has declined to confirm or deny the detailed arrangements, but issued a public statement: "After the management meeting with representatives of key suppliers, we informed the public about the main conclusions, including confirmed support to preserve continuity of operations and regular supply of the retail network. The company continues with regular operations, and the supply of our stores proceeds uninterrupted."

Additional complications include the numerous promissory notes issued as payment guarantees — many of them blank and activatable under contractual terms — and legal uncertainty stemming from the detention of Davor Matura. Lawyers are divided on whether a sale of the company is practicable while the ultimate owner remains in custody; corporate registers currently show no judicial prohibition on disposing of Idea Markets’ shares.

Fortenova Group, the previous owner, has stated that its sale of the business was completed: "The sale and purchase transaction between Fortenova Group and Alta Retail was fully closed on 12 October 2026. From that date, Idea Markets and the four related companies in Serbia that were part of the transaction are no longer owned by Fortenova Group."

AIK Bank confirms it no longer has long-term lending exposure to Idea Markets and says the company’s debts to AIK and the affiliated Gorenjska Bank were fully repaid before the change of ownership. The bank also warned that an existing bank guarantee for regular payment of rent expires in December and will not be renewed.

Suppliers and market participants warn that a collapse of Idea Markets would deal a heavy blow to domestic producers and the wider Serbian retail sector. Some suppliers believe the best outcome would be a sale to a financially solid retail group, ideally a reputable foreign investor, but so far no buyer has been publicly confirmed. Meanwhile, the started enforcement actions, high indebtedness and ownership uncertainty leave the chain facing a severe test of its financial stability.

Photo: press material from the event