Historic hosiery company Marie Claire is going into liquidation

Company Marie Claire The consultation period for the dossier on employment regulations has been closed without an agreement (YOU ARE) announced, so it can be predicted that on June 30 he will declare bankruptcy, which will lead to the liquidation of the socks and underwear company from Villafranca del Cid (Castellón).

The last meeting where the collective dismissal was negotiated was held this Wednesday, and at it the management conveyed the state of stagnation in execution sustainability plan a company that began the process of financial and operational restructuring in order to find a way to pay off the debt it had been accumulating for more than five years and explored the search for an investor.

During negotiations, the possibility to continue the activity with a reduced number of employees of only 89 people and apply ERE layoffs for another 191 workers, a path that is currently closed because no progress has been made in restructuring the company.

Union sources tell Efe that they are waiting for the management to invite them again, but there is no confidence that there will be any progress and that the situation will improve. Because, On June 30, the company will confirm bankruptcy before the courts of Castellón.

Unions are willing to sit down and negotiate “as many times as necessary” to save the century-old company, founded in 1907 in Villafranca del Cid, in the uninhabited Els Ports region of Castellón, UGT sources said.

On May 30, Marie Claire’s management issued a statement — the only public statement it has made throughout the process — explaining that it is in talks with its major creditors and is actively seeking investors interested in backing the brand’s relaunch project. In recent years, the company has been facing financial difficulties that “were unable to overcome despite the last management’s efforts to reduce and optimize the costs it carried out.”

The financing approved by the Valencia Financial Institute to resolve the financial situation and resolve accumulated debts was used to pay outstanding debts to workers and suppliers and to restructure the company to adapt to the market situation.

In recent years, it has been affected by external factors, including a reduction in pantyhose consumption, a crisis in logistics and raw materials, and an increase in energy costs, which has led to “almost unsustainable” production costs and consequently to adjustments in production schedules and reducing the working day to four days. Currently, 130 workers are in the file for temporary employment (ERTE).