Monday, July 4

Hijos de J. Barreras enters competition and the judge authorizes the sale of the facilities

The Commercial Court number 3 of Pontevedra, based in Vigo, has declared Hijos de J. Barreras in a legal situation of voluntary insolvency proceedings, and has also authorized the sale of its production unit. In this case, the transfer of the facilities will be carried out through a separate piece, since the SA de Barreras will go into liquidation. The bankruptcy administration will fall to the company Tahice Legal.

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In the opinion of Judge Amelia Pérez, the separate sale of the land is “of undoubted interest for the workers, the creditors and for the very viability and continuity of the business and industrial activity carried out to date by the bankrupt“.

In the resolution, against which it is possible to file an appeal, the judge highlights that, currently, the company is in a situation of insolvency. In the order, he points out that the report presented by Hijos de J. Barreras SAU links its liquidity crisis with “the decrease in commercial activity and the consequent accumulated losses & rdquor ;. In addition, it ensures that the prospect of a general dismissal of the obligations that are due to the company is “Clearly anticipated by the accounting imbalance between short-term liabilities and current assets & rdquor ;.