SEPI and Cofides bailout funds nearing end with half of 11,000 million without demand

The deadline for approval is 30 June. European Commission at the beginning Pandemic enabling governments to help companies in distress. This is in two months 11 billion € provided by the government rescue companies €5,980 million was requested and 2,519 million was allocated, with 10,000 for large companies through the State Industry Participation Association (SEPI) and 1,000 for SMEs through Cofides, 54% of the total. 6 million, 33% . In other words, half of the money provided by the Executive will remain unless Brussels extends the deadline. not distributed.

This is most companies they didn’t need help This fund owned by large companies enough muscle” values ​​the SEPI resources responsible for managing the Solvency Support Fund, which was approved in June last year to help strategic companies weather the storm of the pandemic. 10 billion €, of which only 5,310 million euros were requested. Of that number, a total of 2.191 million have already been distributed and 444.7 million have been rejected. The rest will be resolved.

In total, until 66 companies They asked for this help. An important part of the tourism sector, which is one of the sectors most affected by the mobility restrictions due to the coronavirus. This situation Hotel Chain Bluebay, Meeting Point, Blue Sea Hotels, Silken, Vincci Hotels, also Airlines such as Air Nostrum, Volotea, Air Europa or the Wamos group, and travel agency, like eDreams. But also companies from a variety of industries as well as industries. restoration (Mediterrenian), feed (Cirrhosis), aesthetic medicine (live) or Industry, such as Imasa, Vicinay or Pacadar among others. They do not expect any new requests as there has been no request from the agency for “months”.

ransom demand more voluminous (this is known as the establishment has not disclosed a list of all requests and quantities) It is owned by the Catalan steel company Celsa. €550 million and its application is “advanced, but still Not approved by the Board of Directors”, according to SEPI sources. Celsa has around 300m euros pending payment to Spanish banks and many other international funds after a First Instance court in Madrid ruled in its favor and ‘pending’ payment of its obligations due in May 2020, November 2020. According to company sources, May 2021, November 2021 and May 2022.

already recovered

So far, the Council of Ministers has given its approval. Rescue of 21 companies worth 2,191 million euros. The last one was hotels. hesperia (55 million) and abba (30 million), last week and groups Julia (38 million) and Mediterrenian (28 million), approved by the Cabinet this Tuesday. The first recovered was Air Europa (475 million), followed by the Asturian engineering company Duro Felguera (120 million) and the controversial rescue of Plus Ultra airline (53 million). it slows down the resolution of aids.

Since then, the company Ávoris, born from the integration of the Barceló and Globalia groups, has received a total of 320 million public support; Assembled Tubesworth 112.8 million; steel group Rugui Steel (25.03 million) and hotelier Hotusa (241 million euros). In addition, forging manufacturing group, Reinosa Forging and Casting (27 million); distribution company SERHS (34 million); artificial intelligence company Artificial (34 million), timber group Losan (35 million) and Soho Boutique Hotels (30 million); also the group abbots (29.3 million), collected techniques (340 million), group Let’s go (85 million), euro currency (45 million) and metallurgical group ferroatlantica (34.5 million).

small companies

In the case of fleasThe government has launched the €1,000 million Recapitalization Fund for companies affected by COVID-19 (Fonrec). Based on April 19 data, 106 applications were received, 77 of which were potentially eligible for the total amount. 670 million €. Of these, 77 were approved. 33 for a total of 328.6 million Euros at the end of April. These include Cesgarden (18.6 million euros), Eating Group (7 million), Egile (10.4 million) and Grupo Universo Pachá (18 million), as well as Lladró, who initially applied for SEPI funding but later donated. Going to Cofides by adapting to these requirements.

The resources in this institution, in his case, they got more requests He said they will “work” but cannot commit to submitting to the Fonrec Technical Committee before 30 June 2022, although these are the dates on which they were received. companies and consultants are in demand. However, we expect to receive signals from the US. European Commission in case of some kind moratorium‘ they add.

Source: Informacion


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