Creditors extend deadline to Dielmar

 In Insolvencies, News, Textiles

Creditors owed millions of euros by Portuguese clothing manufacturer Dielmar have decided to extend their liquidation deadline until 26 October to give the company’s official receivers time to await better buy-up offers.

The receiver says that there are now four interested parties in assuming control of the company which is facing imminent foreclosure.
Dielmar, which makes quality men’s suits among other garments, is based at Alcains near Castelo Branco. It employs around 250 staff.
The president of the Beira Baixa Textile Sectors Workers’ Union, Marisa Tavares told the online news service ECO that the “assembly of creditors have suspended their proceedings until 26 October to give the receiver extra time to consider the two existing offers on the table and see if the other two come through”.
At the meeting which took place on Wednesday afternoon, the creditors decided to extend the deadline by three weeks for the official receiver, João Maurício Gonçalves, to see if he can reach a satisfactory agreement with one of the interested parties.
It is not know which are the four parties interested in buying up Dielmar. A consortium of five clothing and textile companies which had shown an interest decided not to advance last week.