Ternua Group, Great Weight Textile Group in the Basque textile industry and based in Arrasate, includes the Ternua, Astore, Lorven and Loreak Mendian brand and uses 180 employees.
Ternua group next Friday, June 13, 2025 presented, Voluntary creditors competition Before commercial court no. 2 of Donostia-San Sebastián, unable to “Hard Impact” of “Critic” textile market situation Worldwide. A cluster of factors that have been fatal for the group.
As the company explains in a note: “The critical moment for which the textile sector is going through worldwide and has placed the first international companies after a huge and unprecedented market adjustment, the company has strongly influenced that this situation motivates.” So much that the group has closed its last year with a turnover of 29.2 million euros, a negative result and a debt of 16 million.
Ternua Group, Great Weight Textile Group in the Basque textile industry and located in Arrasate, includes brands Ternua, Astore, Lorpen and Loreak Mendian. The company has a production factory in ETXALAR and 28 points of sale directly between Monomarca and Corners stores. At the moment he uses 180 employees “very dedicated and knowledgeable at any time of the difficulties he had gone through.”
As explained by Ternua Group, “until the last minute and before he makes the decision to take advantage of the Bankruptcy Act, the management of Terua Group has to continue the activity and employment with potential investors to whom it could be to get one of the productive units.
In fact, the presented competition has a binding selection of one of the three productive units, in particular by Loreak Mendian and on which the magistrate of the aforementioned court must solve within a month.
After the presentation of the voluntary creditors competition, the company will pass by the Bankruptcy ActTo be led by a bankruptcy manager who will be the one who makes decisions about the future of the productive units, offers offers that can reach them, as well as the employees of the group.
Cluster of circumstances
The memorandum indicates that the company “has been in a delicate situation since 2023, an exercise that concluded with income that exceeded 34 million euros but with a negative result and a progressive increase in debt”.
He clarifies that they have tried to tackle the situation in different ways, such as refining the debt, optimizing structure and expenditure and promoting investments and growth; “Decisions that have not found support and complicity of a market that has experienced a remarkable and continuous decrease in the consumption of outdoor products, especially since the second semester of 2022”.
They point to reasons such as the crisis of the Coronavirus; the changes in the customs of citizenship in the delay; the crisis of the international supply chain and the resulting increase in costs; And the effects of the war in Ukraine, with the subsequent increase in inflation and the rise of types that reduced the capacity of consumer spending.
Source: EITB
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