The Commercial Court Number 1 of Donostia-San Sebastián has already decreed the official entry into bankruptcy of Astilleros Balenciagaas confirmed Radio Euskadi. An administrator will now supervise the company, which is looking for an investor to save itself.
The commercial court has officially declared Astilleros Balenciaga in voluntary bankruptcy. In a car to which you have had access Radio Euskadiallows its owners to continue managing the day-to-day running of the company, but under the supervision of a bankruptcy administrator, which will be the firm PKF Attest.
PKF Attest is the same firm that led the administration of The Naval de Sestao, which could not be saved. Balenciaga’s creditors, who have a debt of 37 million eurosnow have one month to submit their claims.
So that the shipyard can move forward an investor should appear to pay part of the debt, and with a viability plan that the judge accepts. That partner is being sought, while the Ministry of Economy is asked not to veto the restructuring.
Meanwhile, this Wednesday the staff will once again gather in front of the subdelegation of the Spanish Government in Donostia-San Sebastián, and on Thursday in Zumaia the inter-institutional table that intends to find a solution for the shipyard.
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