Fagor Electrodomesticos Spain in negotiations to restructure debt

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As part of ongoing negotiations with the Basque government and the Mondragon Corporation (MCC), Fagor Electrodomesticos based in San Andres Spain, has requested protection from its creditors in order to reach an early agreement on the restructuring of its debt in order to normalise the company’s activity.

Fagor Electrodomesticos is part of the Mondragon Corporation and is responsible for the manufacture and sales of Fagor branded white goods in Spain.

De Dietrich Kitchen Appliances UK, which is responsible for De Dietrich, Fagor and private label business operates as a separate legal entity and remains autonomous from these negotiations. The UK business has maintained profitability for the past seven years and this is anticipated to continue.

Richard Walker, sales and marketing director, De Dietrich Kitchen Appliances commented: “Paramount to the UK business is to support our customers and consumers and that is our key priority at this time.”

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