It is accompanied by a binding offer from an investor, proposing the preservation of the company and the preservation of the jobs
Room Mate filed that Friday before the dean of the commercial courts of Madrid the petition for voluntary bankruptcy with the sale of the production unit, accompanied by a binding offer from an investor proposing the continuity of the company and the preservation of jobs.
Kike Sarasola’s hotel chain has reported that all of this is subject to the receiver’s analysis and the judge’s approval. In addition, he pointed out that the competition only concerns the Room Mate company and not the rest of the group’s companies.
The company has stated that the purpose of this procedure is to ensure the viability and continuity of its business activity, the services it provides to its customers and the future of its employees and suppliers.
In this way, it tries to take advantage of the new ways offered by the latest reform of the bankruptcy law to face the sale of its productive unit with greater guarantees and in the best conditions.
Room Mate has indicated that it has been “strongly affected by the serious pandemic and by the legal disputes that shareholder Sandra Ortega has with the financing banks of Room Mate”.
Last May, businesswoman Sandra Ortega, daughter of Amancio Ortega and Rosalía Mera, announced that she would evict Spanish hotel group Room Mate from two hotels in New York and Miami by demanding 100% of the rent for the properties. The hotel chain accuses the businesswoman of “extreme rigidity” in the negotiations.
Of the company, they have emphasized that they are in the process of regularizing payment with most of their suppliers and are on their way to recovery, but that the bankruptcy process is the most appropriate formula for its future viability.
Room Mate is committed to contributing whatever is necessary to facilitate the development of the procedure. During the time that the bankruptcy process lasts, the hotel chain’s activity will continue to develop.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
