Podgorica, (Montena-business) – The company Stigma–Impex is closing down because of a Government decree prohibiting sale of goods with excise taxes, its director Vladimir Radonjic told Montena-business. Stigma–Impex is 18th on the rating list of most stable small companies. According to Radonjic, the firm that was doing wholesaling and retailing of household’s apparatuses, foreign alcohol drinks and sports wear, was founded in October 1993. “We stopped business because of too high duties to the State that are 160% of the drinks’ cost price” Radonjic said. The company employed 16 workers that are going to be fired because of the business problems. Annual retail turnover in Stigma-Impex was about DEM 3 million. That’s the same result the company achieved in wholesale and it represents the turnover of 15 thousand of drink bottles. The drinks were supplied by ITP Company from London, and the sports wear by Reebok. Among more than 30 buyers of these goods were Elmag Company and almost all duty-free-shops. As Stigma-Impex is the only representative for Montenegro of Vartex from Varazdin, the company will reorientate its business into retail selling of clothes produced by Vartex. In addition to one Vartex retail shop in Podgorica, Stigma-Impex is going to open two others in Niksic and Herceg Novi. av/bd