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Guimaraes consortium wants to buy bankrupt Coelima and retain 250 workers

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Guimaraes consortium wants to buy bankrupt Coelima and retain 250 workers

The Guimarães-based consortium wants to buy the Coelima textile company, which employs more than 250 people and which filed for bankruptcy in April, according to a proposal filed in court that Luza had access to today.

Among other things, the proposal, which was submitted to the Commercial Court of Guimaraes, contains as a condition the preservation of jobs, as well as the recognition of the rights and seniority of employees.

“As a serious demonstration of this consortium’s interest in the feasibility of this proposal, this consortium also presents the possibility of an immediate advance in the amount that, according to the previous interim administration of the insolvent company, would be necessary to keep the insolvent company in operation in the month of June, the cost of which adds 200 thousand euros. “, – the proposal says.

However, the text notes that “the retention of jobs in leadership positions depends on a preliminary assessment of their competence to perform the above functions and the need to preserve them.”

The consortium that intends to acquire Coelima, a Guimaraes textile that celebrates its 100th anniversary next year, consists of R.TL., SA and José Fontão & Cia, Lda.

In the proposal, investor supporters demand “the final transfer of the insolvent institution (…) with all its assets”, which includes goods, brands, equipment and client portfolio.

The consortium commits to repay the loans to the tax authority, social security and bank loans in monthly installments.

The precondition for this group of companies is that Coelima continues to operate, maintaining the client portfolio as well as the team that makes up the current sales department.

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It is also required that the outgoing administration submit a set of documents “necessary for the development of a business plan”, which must be developed within 30 days after admission.

“This proposal has the sole purpose of supporting the life of the company and the Coelima brand, a century old, historic company with more than 250 families living through its employees,” concludes the proposal.

The fall of the giant

Coelima – Textile industry filed for insolvency on April 14after a “more than 60%” drop in sales caused by the pandemic and the rejection of the bids he sent to hotlines due to covid-19.

“The company decided to file for bankruptcy as a result of the situation created by the pandemic, which caused a sharp decline in sales and pressure on an unstable treasury,” a textile official in Lusa said at the time. …

The insolvency announcement was posted on April 22nd, with the company submitting liabilities of around € 30 million and around 250 creditors at the end of 2020.

On Wednesday, the administration of the textile company Coelima announced that he would not submit an insolvency plan with the aim of rebuilding the company, since “the conditions for maintaining the business are not met.”

“Over the past several weeks, Coelima has been actively working to obtain the support needed to rebuild it and to make it possible to implement the bankruptcy plan. Despite all the efforts and work done, Coelima was unable to secure the support of various parties regarding the presentation of the plan, so the decision about the future of the company will depend on its creditors, ”said a Lusa official.

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In an insolvency petition, a textile company with 253 workers asked the court to appoint management of the insolvent property, whereupon “it committed itself to submitting a bankruptcy plan that would ensure the continuation of the company. “.

Founded in 1922 and one of the largest manufacturers of bedding, Guimarães Textile is part of the MoreTextile group, which was formed in 2011 through a merger with JMA and António Almeida & Filhos, and the main shareholder of which is the Recovery Fund, managed by ECS Capital.

The Minho and Trás-os-Montes Textile Union convenes a plenary meeting

Meanwhile, the Textile Union of Minho and Trás-os-Montes has scheduled a plenary meeting of workers at the Coelima textile factory on Monday to announce a new proposal that “gives a breath of hope,” coordinator Luce said today.

“This is hope. Other proposals or other companies will face bankruptcy. But we don’t want the company to go bankrupt, we want continuity. This group already guarantees June salaries and wants to keep workers, namely salesmen. At the moment, there is already a dispute over the client portfolio of Coelima, a company that has a product, a brand, an authority, which has everything to become a great company, ”said the coordinator of the Textile Union Minyu and Tras-os. From Montes to Luz., Francisco Vieira.

The plenary meeting was scheduled for Monday 13:30, in the presence of CGTP-IN Secretary General Isabelle Camarinha.

Francisco Vieira, who refuses to view Coelima’s future scenario as “the fate of death,” added Luce that he hopes to arrange a meeting with the Guimaraes city council on the same day, who, according to the union leader, “Demonstrated a great deal of commitment to the process by maintaining direct contact with the Ministry economy “.

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“We have to find a solution. The workers don’t want to stop, ”the coordinator said, noting that this might be the“ third life ”of Coelima, which survived the 1991 crisis when it had 2,240 workers and another in 2001 when it had 600 employees.

Francisco Vieira said that “the vast majority of workers receive the minimum wage, and there are people with 40 years of work experience.”

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Economy

Landlords must report rent by the end of the month. Set this and other IRS dates until the declaration is delivered

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Landlords must report rent by the end of the month.  Set this and other IRS dates until the declaration is delivered

UNTIL THE END OF THE MONTH

CLAIM INCOME

Landlords who are exempt and have not chosen to issue electronic rent receipts must submit a Model 44 return to the Finance Department via the Internet by the end of this month – Sunday 30th. delivered to the department by the following Friday.

And who are these taxpayers who are exempt from electronic income receipts?

These are owners who do not have and are not required to have an e-mail box and who did not receive more than 877,622 euros of rent (double the social support index) in 2021. These two conditions are combined.

Landlords who were 65 years of age or older on December 31, 2021, and taxpayers who receive rent under agreements covered by the Rural Lease Scheme, are also exempt.

UNTIL 15 FEBRUARY

˂ Consult and update your personal page on the Financial Portal with your family composition and other relevant personal items, such as the email address or NIB to which the state should transfer the IRS refund.

˂ Indicate spending on education and training in the interior of the country or in the autonomous region. You can deduct 40% of these fees up to a limit of one thousand euros, and the rent paid for the maintenance of a relocated student is not more than 300 euros.

˂ Tell the finance department about the rent for permanent housing if you have moved to the hinterland. You can deduct up to one thousand euros in the IRS instead of the usual 502 euros.

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˂ Consider the duration of long-term permanent housing leases (contracts of up to two years or more), as well as the termination of such contracts. This type of lease benefits from lower tax rates, which decrease in proportion to the number of years the property is occupied, as agreed with the tenant. This is done through the financial portal.

UNTIL 25 FEBRUARY

CHECK BILLS

It is time to check or report, if your e-invoice portal personal account is not displayed in your personal account, invoices for expenses incurred in 2021. Based on these expenses, the IRS calculates a withholding from the IRS Fee, which reduces the weight of the invoice and increases the government’s possible refund. Thus, in addition to promoting a fairer tax system, the IRS is cutting costs when requesting an invoice with a taxpayer number for education and training, health care, and housing expenses.

There is also a discount related to general family expenses, which includes any fees, up to a deduction limit of €250 per taxpayer (€335 for single parent families). Maintenance payments determined by the court must also be indicated in the declaration according to model 3, since 20% of their total amount can be deducted from the tax. Don’t forget to request an invoice in certain areas of activity corresponding to the percentage of VAT paid in your pocket: 15% for car and motorcycle repairs, accommodation and meals, hairdressing, veterinary activities and gyms and 100% for expenses. with monthly passes for public transport.

Finally, keep in mind that there is a general limit to the set of tax deductions and benefits that follows from the mathematical formula. It varies by household income, the higher the lower the ceiling. Families with three or more children are eligible for an increase in the limit.

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FROM APRIL TO JUNE 30

Open an IRS campaign. It is not recommended to send or confirm the data, if they are subject to automatic declaration, during the first 15 days of the period, since, as a rule, it is during this period that the technical services detect possible errors in the system and correct them. You will not be affected in terms of calculating your tax, but you may be penalized with an increase in the time it takes to settle your return and the corresponding tax refund, if applicable.

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Economy

Bitcoin is only worth half of its all-time high in November

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Russia wants to completely ban the use and mining of cryptocurrencies

Have you followed the fall of bitcoin? We all know that the cryptocurrency market is very volatile, and in this sense, it is necessary to be very attentive to price fluctuations in order to bet at the best time.

In early November 2021, Bitcoin hit an all-time high of $69,000. Now, three months later, the world’s most popular digital currency is worth half as much.

Bitcoin is now worth $69,000

Bitcoin is a virtual currency based on a peer-to-peer (P2P) system. P2P is a system that does not provide for a centralized authority to control the currency or transactions, as with other currencies (for example, the euro is controlled by the European Central Bank).

In November, the digital currency reached $69,000, but now it is only worth half. At the time of this writing, according to the Coinbase platform, bitcoin is worth $35,000 - see below. here.

Bitcoin is only worth half of its all-time high in November

But the problem is not only with the BitCoin currency. Also Ether, Cardano and Dogecoin are in bankruptcy this Monday. For Bloomberg Intelligence analysts, this phenomenon is a repetition of the past, a “pause in the face of market uncertainty,” analysts defend.

Since November, the cryptocurrency market, which consists of more than 15 thousand tokens, has lost about $ 1 billion, being in a “bear market”. In light of what is happening, investors have taken advantage of the bitcoin crash and poured $14 million into crypto funds.

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Economy

Six new technologies explore the path to a possible entry into the stock market – Bolsa

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Six new technologies explore the path to a possible entry into the stock market - Bolsa

Bidirco Engineering Systems, Imaginary Cloud, Immunethep, IMP Diagnostics, Nonius Hospitality Technology and a sixth company that prefers to remain anonymous are the companies selected to integrate the 7th edition of Techshare, a program hosted by Euronext that aims to prepare technologies for shares. entering the market within the next two or three years.

Euronext kicks off this Tuesday with a new edition of Techshare, a program that aims to help tech companies familiarize themselves with the capital markets with a view to pursuing a future Initial Public Offering (IPO, abbreviation in English).

According to Euronext, six selected companies have been selected from 26 valid entries and over the next six months they will be strengthening their knowledge of capital market access through meetings with Euronext and partners to discuss what is required to enter. .

Euronext’s partners this year are Caixa Bank/BPI (bank), CV&A (communications), Morais Leitão (legal services) and PwC (consulting).

Euronext adds that the campus for the end of this academic year will take place in June in Portugal, at Nova SBE, where 122 companies from Germany, Belgium, Spain, France, Holland, Ireland, Italy, Portugal and Switzerland will participate. , as well as all specialized partners in each country.

Launched in 2015, Techshare’s pre-IPO program already has over 650 companies, of which 46 are Portuguese.

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