Debt-ridden Spanish fish and seafood manufacturer Pescanova has closed one of its manufacturing facilities in Argentina.
Pescanova, which filed for voluntary insolvency earlier this month, has closed one of its two plants in the country, a spokesperson for the company confirmed to just-food today (29 April).
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The firm had taken a preliminary step in insolvency proceedings at the beginning of March, prompted by an unsuccessful bid to find a buyer for its Chilean salmon business. However, it failed to reach an agreement with creditors on the renegotiation of its debts and filed for bankruptcy.
The spokesperson declined to provide any other details of the closure other than that it might only be a “temporary” move. The facility is owned by Argenova, Pescanova’s subsidiary in Argentina.
According to Spanish publication El Pais, the facility employs around 40 workers who have agreed to wait for the start of negotiations with unions before deciding whether to launch demonstrations.
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Spanish stock market regulator CNMV said on Friday it had proposed Deloitte as the administrator of the Spanish fishing firm, according to Reuters.
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