Kelme was rescued again. commercial New Millennium Sport SL, who took over the marketing and distribution of the brand in Spain after the rescue operation organized by Generalitat in 2008 to prevent the disappearance of the brand. pass the contest He requested in October 2021, in agreement with his creditors. An already made deal Approved by Alicante’s commercial court no. 3, As published by the BOE this Thursday.
They showed from the company itself satisfaction with the signed agreement Backed by over 75% of creditors voting rights and will allow the firm to continue its operations and be approximately protected 45 jobs It depends on this.
In this sense, the final agreement is a removes from 88% on debt, if the company has a a period of ten years – three years with a grace period– to pay the remainder, as indicated by the office of Galsán Abogados, acting as the bankruptcy manager. In this way, after agreement The company’s liabilities were reduced to less than 3.5 millionan amount that managers consider more than acceptable.
from Sportswear and footwear company they make sure they have a lot good prospects for the future, when the bankruptcy situation is over. Thus, the group last year about 10 million sales after euro grow in “double digits” and they expect to increase their revenues by more than 20% this year, according to official sources.
In this regard, they will continue to bet on Kelme. indoor soccer, which in recent years has meant: the ‘core’ of your businessIn addition to continuing to promote footballwhere are they Espanyol sponsors from Barcelona. However, in addition, the firm wants to grow Basketballthey see many opportunities to expand in Spain, as some of the brand’s overseas distributors have already done.
New Millennium Sports Filed for voluntary bankruptcy in October 2021He sentenced him to pay after a ruling by the Alicante Provincial Court 3.2 million euros to former license holder in Panama. A sentence that comes after the company’s turnover, which fell by half in 2020, also fell sharply. Pandemic. From the beginning the firm has, among others, Support of the Chinese Yuanxiang group, owns the distribution and licenses of the brand in Asia.
public rescue
the company is one Two companies founded in 2008 the generalitat came out for the second time word recoverysuffocated by the enormous debt it has dragged on. Thus, the regional manager created to save the brand, on the one hand, Aguamarga Urban DevelopmentsWhich IVF, CAM And Bancaja and bought some black in the homonymous salt marsh that allows him to reduce his indebtedness. Of course, at great cost to the public treasury as the land was protected and never reclassified, the heirs of the Valencian savings banks – Sabadell and Bankia – demanded payment of their guarantees. It cost Consell 39 million euros.
On the other hand, New Millennium Sports was founded through the Tirant fund, which created the manager. Riva and Gacia and IVF. All industrial business and sales of sportswear and shoes were transferred to this company.
To obtain liquidity, the company vtransferred the rights, licenses and international distribution of the brand to Chinese group YuanXiang, through the company Kelme Sports, which has always carried out its activities normally. In this way, New Millennium Sports is now in charge of distributing the brand’s products in Spain.
Among the company’s creditors is the Valencia Institute of Finance, worth 6.3m euros, which will be affected by the settlement and payment terms agreed upon in the agreement approved by the judge.