chain of gift shops Moss requested in the courts of the Mercantile's statement voluntary bankruptcy creditors, bankruptcy old, having failed negotiations with financial institutions to restructure its debt.
with liabilities of around 15 million euros, the company controlled 87.5% by the private equity manager AC Development Corporation Savings Group, has also tried unsuccessfully to find investors.
The chain hosted last fall to Article 5.3 of the Insolvency Act that gives companies a period of three to four months to negotiate a payment plan and establish an advance agreement with creditors before filing for insolvency. However, no agreement was reached with the seven creditor banks with trading. Moss
closed its last fiscal year on January 31, 2010 with a loss of 3.6 million euros and forecast for the fiscal year put the 'red' in similar figures. The company employs 270 workers and a sales network comprising 30 stores, two in Portugal. Via
Elmundo
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