According to the reports sent to the commercial court number 2 of Alicante by the bankruptcy administrator of the Agricultural Cooperative of Altea, which started its insolvency procedures on February 13, 2020, and was declared bankrupt on February 11, 2021, the cooperative and its Villaranja subsidiary have debt amounting to 28 million euro, 4 million euro of which are owed to its 175 workers.
According to the labor loans lists, the cooperative has debts with 134 workers amounting to 2,691,647 euro, while Villaranja, the subsidiary that operated in Andalusia, owes 41 workers 1,310,000 euro.
It's worth noting that the entity ceased its activity on February 13, 2020, and that it dismissed most of its workers a few days after. It had more than 1,000 cooperative members.
The cooperative owes many wages, but the bulk of its debt is comprised of compensation for the layoffs caused by the cessation of activity. 1,288,787 euro of the 1.3 million euro that Villaranja owes are due to severance payments. The company reached an agreement in one case. The remaining are waiting for the social courts' ruling and the amounts have yet to be agreed.
The cooperative's situation is very similar. However, the Benidorm courts have already issued a dozen sentences estimating how much the cooperative will have to pay for the unfair dismissals of its worker. The cooperative owes 2,691,647 euro to the workers. 60,000 euro of which are the amounts pending in the last 30 days before declaring the bankruptcy; 55,500 are after the contest; 552,000 are considered as contingent debt and two million as preferential debt for workers.
The cooperative owes its creditors 18.8 million and Villaranja 9.8 million. In default interest, Villaranja owes almost 300,000 euro to various entities and suppliers and 500,000 euro in fines from the Tax Agency and Social Security. In addition, it owes the cooperative two million euro.