Home / Knowledge / News / Textiles / DOGI International in administration
DOGI International in administration
28
May '09
DOGI International Fabrics Board of Directors, in meeting in El Masnou, has agreed to present a Insolvency Process, the objective of which is to guarantee the Company's continuity.

The reasons why the Group's Spanish subsidiary is presenting the Insolvency Process are, first of all, the reduction in sales suffered in the last quarter of 2008 and the first quarter of 2009. Secondly, an excessive cost structure, increased by the duplicity in costs caused by the transfer of the mill to the new facilities at Dogi II.

These reasons, together with the restriction of credit from the financial entities, which have prevented the company from attending its financial obligations, have caused and direct effect on the Group's treasury. Over the last months the Company has tried to obtain external financing, but it has not been possible in the end.

Tomorrow the Company will present the Insolvency Process request to the Mercantile Court in Barcelona. The liability of this proceeding amounts to 42 million Euros, of which 28M Euros corresponds to financial entities, 5M Euros to the Dogi Group and 3M Euros to the Civil Service.

DOGI Spain aims to overcome this situation as quickly as possible and has opted for presenting an “Early Offer of Agreement” and to this effect is finalising the elaboration of a feasibility plan that includes the Company guidelines.

DOGI International


Must ReadView All

US FTC updates textile rules to drop obsolete requirement

Textiles | On 23rd Jan 2018

US FTC updates textile rules to drop obsolete requirement

The US Federal Trade Commission has eliminated an obsolete provision...

Indian textile industry at inflection point: Report

Textiles | On 23rd Jan 2018

Indian textile industry at inflection point: Report

The textile and apparel sector of India is at an inflection point...

Ghana to set up equipment hub for apparel sector

Apparel/Garments | On 23rd Jan 2018

Ghana to set up equipment hub for apparel sector

As part of efforts to seek ways to improve market access for Ghana’s...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search