Marie Claire is left and not using a purchaser: C2 Private Capital withdraws its supply to accumulate the Castellón manufacturing facility | Economy | EUROtoday

The century-old textile firm Marie Claire is left with out a suggestion to promote its manufacturing plant in Vilafranca (Castellón), closed since June. The Madrid funding group C2 Private Capital has withdrawn the proposal offered to the business courtroom to renew the corporate's exercise and which included the complete buy of the manufacturing unit primarily based on this city of two,200 inhabitants within the inside of Castellón and the upkeep of the workforce of 100 staff, lined by an ERTE that has simply been prolonged till June.

C2 Private Capital's supply dominated out assuming the debt of 38 million euros, 24 of that are owed to the Valencian Institute of Finance (IVF). This has been the principle purpose for friction between the funding group and the collectors, sources near the acquisition operation have identified, and the purpose of no return that has prevented the acquisition of Marie Claire from succeeding.

“For certain actors the offer is insufficient, but the investment group has made every possible effort, and this has been communicated at all times,” the identical sources have identified. Thus, the president of the Generalitat Valenciana, Carlos Mazón, described the acquisition supply as “insufficient for the excellence of the future of Marie Claire that we want,” just a few days in the past. The Minister of Finance, Economy and Public Administration, Ruth Merino, spoke in the identical vein, seeing the 250,000 euros provided by the group within the buy as “meager”.

The refusal to imagine the debt – a slab for the revival of exercise and the upkeep of employment, which “were the objectives of the offer,” say these near C2 Private Capital – has weighed on the shortage of settlement inside the negotiations held between the investor and collectors, and has led to the presentation of allegations in opposition to the proposal. This is what the IVF has executed, as confirmed by the Department of Finance, and in addition different entities similar to Social Security.

All in all, Marie Claire, specialised in making stockings since its basis in 1907, returns to sq. one after chaining two buy proposals to renew its exercise in simply over a month. At the start of February, the chapter administrator knowledgeable the works council of the existence of a purchase order settlement with a agency linked to the textile sector that may enable the Vilafranca manufacturing plant to be reactivated, though it in the end didn’t prosper because it was discarded by the chapter administrator himself. After that, C2 Private Capital took over, a Spanish fund primarily based in Madrid with a number of investments in numerous sectors, from building to the aglo-food sector or the newest subject of textiles. April 8 was the deadline for the courtroom to authorize or not authorize C2 Private Capital's supply, which prolonged the acquisition to the complete manufacturing plant, together with staff, equipment, amenities and model.

The choice to withdraw the proposal was made final week, days earlier than the authorized deadline expired. “Given the unfavorable view that was available, maintaining the offer in court would have meant wasting time and preventing the entry of another possible investor, further harming the workers,” the identical sources defined.

Workers who’ve acquired the information “like a bucket of cold water” and “practically unofficially, because here everyone has hidden,” criticize from the Marie Claire works council. Until this afternoon, the funding group has not communicated “via WhatsApp” that it was withdrawing. Nor, they are saying, has the chapter administrator transferred it but. Last week the committee held a follow-up assembly with him and in it “he told us his concern because the investor had to provide the court with documentation proving his solvency and since holidays were coming up he did not know if it would arrive on time, but he also told us “It was a procedure that was easy to solve, but nothing more.”

“People are upset; It is bloody, it was the last train that passed,” say the union representatives. They remorse the “little involvement of the administrations” and criticize that the statements of Mazón and Merino “saying that the offer was insufficient and that they were working on other more viable proposals” have “scared away the only investor there was.” “If they have better alternatives, let them present them,” they preserve.

“We feel used, and abandoned, because false expectations have been created; The future of Vilafranca is dark, and that of the 100 workers who remain, too.”

Marie Claire was acquired in April 2021 by the corporate Think Textil, which has Inditex as its primary consumer, in an operation assured by IVF by way of a financing plan to fight depopulation. The adjustment concerned the closure of the logistics plant situated within the municipality of Borriol, additionally in Castellón, and the focus of exercise on the Vilafranca amenities.

In June 2022, the corporate formalized with the Generalitat a financing operation value 12 million euros authorised inside the framework of the Valencian Resilience Fund for strategic firms affected by the disaster.

The slowdown in demand because of the pandemic and the logistics and uncooked supplies disaster accelerated the decline of the textile trade and its incapability to get well and return the financing. The closure got here in June 2023. Marie Claire, the final main trade within the rural area of Els Ports, within the inside of Castellón, stopped machines after 116 years of historical past. 190 workers of the corporate's virtually 300 workers have been laid off. The relaxation stays in ERTE.

Since then the manufacturing facility has been inactive. Only safety personnel stay there for surveillance work, and between three and 4 workers in command of issuing orders already ready within the warehouse.

Follow all the data Economy y Business in Facebook y Xor in our publication semanal