- Angela Gonzalez-Rodriguez |
New York - The Spanish fashion brand has gone into liquidation after months struggling to find a potential buyer. Had been seeking for investors since last summer, finding itself forced to call the administrator last November.
The judge who instructed the insolvency proceedings in Madrid issued on January, 30 the opening of the liquidation phase of the company, according to ‘Modaes’. At least, owner group of Intropia, wouldn’t have started auctioning the company’s assets, added the specialised publication.
Intropia’s management has been in talks with various potential buyers, although negotiations didn’t succeed. Amongst the reported interested parties were Andrés Tejero, former vice president and CEO of Pronovias.
According to the last filed public accounts, in fiscal 2017, Intropia accumulated a liability of more than 16 million euros. That year, the fashion group registered a turnover of 30.8 million euros, short of the 35.3 million euros reported in 2016. The group's losses stood at 9.4 million euros.