The Ternua group has sold the brand Loreak Mendian to the Guipuzcoana company Borobitex

Since last June, the famous textile company in Arrasate has been in a voluntary creditor competition since it revealed that it was unable to cope with a debt of EUR 16 million due to the global textile crisis .

Ternua Group had four brands, Newfoundland itself, Achievement socks, Astore and Flowers on the Mountain, and has been negotiating with several investors for months to sell the company in pieces and thus settle the debt.

Well, the insolvency administrator appointed by the judge has given his approval to the sale of the Loreak Mendian brand, which has been acquired by the Guipuzcoana company Borobitex. This sale guarantees the employment of 18 workers.

The negotiations for the sale of the other three brands continue, and that is the challenge now, so that we can secure the job for the group's 180 employees.