Leading Slovene Hotel Trying to Avoid Bankruptcy

Ljubljana, 11 March - Hotel Lev incurred a loss of SIT 608 million/EUR 2.7 million in 2001 after its four-year renovation cost 25.6 million German marks instead of the originally planed 16.2 million. The loss was mainly a result of the debt and interests. This leading Slovene hotel, based in Ljubljana, has already asked the bank NLB to write off part of its debt and restructure the loan. The hotel manager was hopeful that NLB and the rest of the banks which gave the company the loan would not push it into bankruptcy.

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