Flores Valles closes agreements with creditors
June 10, 2018
Flores Valles reaches agreement with creditors and paves the way to exit administration process
After intense months of negotiation, in may 2018, Flores Valles reached an agreement with creditors representating the majority of its debt, thus paving the way to normalizing its situation and finishing the administration process.
Flores Valles requested the voluntary insolvency proceedings at the beginning of 2018 in order to be able to reorganize its business and negotiate financial restructuring under the legal protection of this legal figure. The support of a solid business plan was key during these negotiations to gain the support of almost all of the financial creditors to the proposed agreement.
This very important agreement clears the way to complete the strategic reorientation, simplifying its operations and improving its ability to serve its customers.