Vinci Construction, a French group undertaking highway and bridge projects in Serbia, terminated its operations and laid off 3,000 workers due to unpaid bills amounting to €1bn ($1.3bn).

Inter-most, the group’s local subsidiary, filed for bankruptcy stating that Inter-most is not able to overcome the current economic crisis, the Financial Times reported.

Serbia is seeking financial aid from the International Monetary Fund to handle the country’s current economical crisis.