The brutal rise in fuel prices and other costs due to inflation that led many carriers to strike two months ago is already noticeable in business insolvencies.
Contratas y Transportes Salgar, a Valencian company focused on the transport of goods by road that had experienced strong growth since its creation in 2013, has been one of the firms in the sector that has resorted to insolvency proceedings in the commercial courts of Valencia.
The main company of the Salgar Group went from invoicing 10.78 million euros in 2016 to around 32 million in 2020, according to data from the Mercantile Registry. A strong development marked by the extension of the activity of its trucks from the port of Valencia to other regions, mainly with large ports.
The Valencian group even went so far as to open offices in other countries, such as Portugal, Greece, Romania, Morocco and even Russia, in addition to making the leap to other logistics activities linked to container management. In fact, the parent company was the head of a group that in 2020 reached a turnover of 55.9 million euros and included the fuel company American Petrol, ALX Logística and Bornay Logística, among others, which are not in contest.
In fact, shortly before its bankruptcy, one of its main clients, the Tiba Group, came to assume a minority stake, although this injection did not serve to redirect the situation.
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The company came to manage a fleet of around 150 trucks and at the end of 2020 its workforce stood at 120 people between permanent and temporary staff, although it also had a significant subcontracted workforce that exceeded 300 drivers. A staff directly affected by insolvency, since according to the edict of the Mercantile Court number 2 of Valencia that processes the bankruptcy, the Salary Guarantee Fund (Fogasa) is among the main creditors. In its resolution, the court has appointed the specialized firm Foro Legal as bankruptcy administrator.
The contest of this operator is added to the closure and liquidation of and had also been extended to other areas of Spain.
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