Intropia enters liquidation phase
Spanish brand Intropia has gone into liquidation after failing to find a buyer for the struggling business. The company filed for bankruptcy in November, and on January 30, a judge at a Madrid court ordered its liquidation.
This is according to documents from the Commercial Court No. 10 of Madrid, seen by FashionNetwork.com, which show an order to open the winding-up phase of At Least, the parent company of Intropia, on January 30, 2019.
Intropia started looking for a buyer in July last year after firing its board of directors and naming At Least founder and chairman Constantino Hernandez as the only person in charge of the company. In November, it filed for bankruptcy but it continued to explore its strategic options.
The Madrid-based brand is now going into liquidation, but it declined to comment on the process. On January 25, it closed its only store in Madrid, located on Calle Serrano, however its four concessions within El Corte Ingles continue to operate as usual.
Intropia, formerly known as Hoss Intropia, made sales of €35.26 million in 2016, its most recent accounts filed with the Mercantile Register in Spain, show. It compares with sales of €47.7 million in 2015.
Intropia has currently stores in London, Porto, Barcelona, Bilbao, Malaga, San Sebastian, Seville, Valencia and Zaragoza, and has a presence in 16 El Corte Ingles stores. Additionally, its products are sold on its own online store.
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