Spanish label Intropia files for voluntary bankruptcy
Spanish womenswear label Intropia has taken a new step in the effort to solve its current financial problems, and entered bankruptcy proceedings voluntarily.
FashionNetwork.com has learned from sources that the bankruptcy declaration has been effective since November 13 2018. The case was assigned to the number 10 trade court in Madrid, the city where At Least, Intropia’s parent company, has its headquarters and registered address.
Formerly Hoss Intropia, the womenswear label is at a difficult juncture and last June it dismissed its board of directors, appointing President and founder Constantino Hernández as sole director. This move gave rise to speculations about the possibility of finding a buyer for Intropia, to avoid bankruptcy. An option which is still on the table while bankruptcy proceedings have started.
According to Intropia’s last financial statement filed with the companies register, relating to 2016, the company had generated sales for €35.26 million, compared to €47.7 million in 2015. At the time, the company was indebted for €25 million, and had recorded losses for €6.69 million.
Intropia is currently distributed by about 1,000 retailers in 40 markets worldwide, and operates monobrand stores across Spain and in Paris, London and Lisbon.
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