Vigo, Spain-based tuna specialist Atunlo has been given a few more days to avoid selling off the company after a commercial court granted it an extension amid its bankruptcy proceedings.
Atunlo first entered the pre-bankruptcy process in November 2023 after suffering from surplus stocks and sales declines. Compañía Internacional de Pesca y Derivados (Inpesca), which owns 40 percent of Atunlo, along with Comercial Pernas (Coper) – which also owns 40 percent – called an urgent extraordinary meeting for Tuesday, 7 November 2023 to start the process.
The company was ultimately unable to restructure its debt and entered the full bankruptcy process in May 2024 amid tension between Inpesca and Coper, along with the third owner Marpesca, which owns 20 percent of the company.
Now, over a year later, the company is still working through its difficulties and is trying to get at least 65 percent of its creditors to ...
