In a startling turn for Serbia’s long-dormant textile heartland, the defunct assets of Leskovac’s once-mighty wool factory, Leteks, have been snapped up for 200 million dinars—more than triple the starting bid.
The winning offer came from an unlikely pairing: Stefaneli Internacional and Home Centar Vera, who clinched the deal after a dramatic public auction.
The sale included eight industrial buildings within the storied “Red star” complex, a rusting monument to Yugoslavia’s lost manufacturing glory.
Only months ago, a similar auction flopped at 80.3 million dinars. This time, the bidding surged past expectations, hinting at either quiet confidence or speculative ambition.
Leteks, in bankruptcy since 2011, once symbolised Leskovac’s industrial might.
Now, with each parcel sold, the city edges between nostalgia and renewal—its concrete skeletons perhaps poised for a second life in Serbia’s uncertain economic future.
