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Ljubljana/Žiri – The Bank Assets Management Company (BAMC) initiated on Monday procedures to sell its 100% share in the footwear producer Alpina and all of related liabilities worth EUR 28 million.

The bad bank said on the time was right for the sale as it has done all it could to stabilise the Žiri-based company.

Žiri – Alpina, a footwear maker best known for ski and hiking boots, plans to reduce its headcount by more than a tenth at its main production location in Žiri after a dismal year marked by store closures and the long shutdown of ski slopes around Europe.