Spanish cruise company Pullmantur requests to open the liquidation process

0
Spanish cruise company Pullmantur requests to open the liquidation process
Spanish cruise company Pullmantur requests to open the liquidation process. image: pullmantur twitter

SPANISH cruise company Pullmantur has made a request to the courts to open the liquidation process

Spanish cruise company, Pullmantur, has today, Thursday 15, announced that it has requested in the courts for the liquidation process to be initiated, in order to carry out an inventory of the company’s assests to allow potential investors to inject the necessary capital needed, or to sell the company, according to a report by Invertia.

This move has been long-expected, as the pandemic has hit the cruise sector badly, with no real date set in stone for the resumption of activities.

-- ADVERTISEMENT --

In a statement from Data Bankruptcy, the bankruptcy administrator of the shipping company, it said, “Pullmantur continues negotiating with two or three investors”.

While Pullmantur commented, “Unfortunately, the prolongation of the state of alarm and its successive extensions, together with the restrictions in the cruise operation, made Pullmantur, like the rest of its competitors, have to postpone again its plans to restart activities, due to the restrictions in Spain to contain the Covid-19, disrupting all its work plans”.

If an investor can be found then the shipping company can restart, and reinstate the workforce, but in the absence of any investor then the process would end up with the extinction on Pullmantur.


Pullmantur has announced that in the next few days it will proceed to pay all the compensation agreed with the workers, “which represents an advance of almost four months with respect to the deadlines previously agreed with them”, as, on March 15, the Pullmantur workers’ assembly ratified, with 85 per cent of the votes in favor, the ERE agreement with Data Concursal, affecting around 320 employees.

A compensation of 30 days per year worked was agreed, and of these, 10 days have already been paid to workers, with the remaining 20 days due be paid within six months, thus, the first monthly payment, the one corresponding to May, has already been paid.

In total, the company has paid out €4.46 million euros out of a total of €6.5 million that it has to pay in compensation, and the administrator anticipates the payment of another €2.1 million in July. At the moment, as Invertia has reported, there has been no non-payment, although the workers who have challenged the ERE doubt the intentions of the shipping company.

The company has reportedly left the door open for those affected by ERE to return, in case any investors arrive and the company refloats, and of the 320 workers affected, a small portion of around 20 employees will remain, maintaining some active functions.


Of the monies owed, Pullmantur has reportedly proceeded to return 83 per cent of the amounts paid in by clients, most of them agencies and tourist companies, but a small group apparently have not accepted these refunds due to currency depreciation, or other reasons.

___________________________________________________________

Thank you for reading, and don’t forget to check The Euro Weekly News for all your up-to-date local and international news stories.

-- ADVERTISEMENT --
Chris was born in a small village in Wales, where he ran his own successful construction company for many years, before deciding in 1990, to swap the grey skies and rain for the sunshine and lifestyle of the Costa del Sol. Late last year he made the move to Southern Portugal, and is now residing on the Algarve. Having sang and played in a rock band back in Wales, he still likes to go out and entertain in his spare time, singing in restaurants and golf clubs. Interests are of course music, especially from the 60s and 70s, movies, nice restaurants, and has a passion for graphic design and online marketing.

LEAVE A COMMENT

Please enter your comment!
Please enter your name here