Ecolumber The process to request the declaration of voluntary bankruptcyas the company sent this Tuesday to the National Securities Markets Commission (CNMV). With this, the Catalan nut company will declare insolvent along with its subsidiariesUriarte Iturrate and Nuts from La Vega.
In this way, the Catalan company, owned by a group of family officewill continue to operate under the supervision of a bankruptcy administrator. This situation derives from the refusal of the Provincial Court of Barcelona to reject the restructuring plan approved by commercial court number 6, which was challenged by creditors. The nuts firm, which had achieved several debt reductions, is now forced to look for alternatives to avoid closure.
In this context, the company had several options. On the one hand, it could present a new restructuring plan or try to stay afloat despite the debt it accumulated. However, finally the company has opted to enter bankruptcy.
The nuts company is controlled by several illustrious Catalan families such as the Godia or the Tous and the Basque family Ybarra Careaga (who hold positions at Elecnor and Vocento). In the first half of 2024, it obtained a turnover of 9.3 million, 10% less than in the same period of the previous year. The losses were 802,375 euroscompared to 11.4 million red numbers of the comparable semester.
The Catalan firm managed to approve a plan with some of its creditors in February. However, the banking sector, led by Caixabank, Banc Sabadell and Banco Santander – which represented more than 60% of the liabilities – challenged the operation.?
Likewise, last July the company approved a 38.8% reduction in the nominal value of the shares, up to 0.30 euros per share —0.19 euros less—, to compensate for the losses in 2023.??????
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