A high-street fashion chain, which includes outlets at Zenia Boulevard, Torrevieja’s Habaneras shopping centre, and Cartagena, has gone bust. Blanco has announced all its stores will close and its 850 employees will be made redundant, after having declared itself bankrupt for the second time in Spain and Portugal.
The company is said to owe all staff 23 days’ pay from November which is overdue, but unions say Blanco’s management is ready to negotiate the ‘best possible conditions’ for outgoing employees. Closures of the brand’s 102 shops will be gradual, but will not start until the Mercantile Court of Toledo approves its second bankruptcy application.
The company, which has liabilities totalling 133 million euro, has applied to the court for permission to wind up – unlike the previous occasion when it went into receivership, in 2013 – and has already shut down its website right in the middle of the Christmas shopping season. A message on Blanco.com says anyone with online orders placed will be contacted as soon as possible.
