South Export Services SpA (SES) requested the initiation of a procedure of judicial reorganization in order to reach an agreement with its creditors. This, through the restructuring of its liabilities and assets to be able to settle its debts. When arguing the request before the 1st Civil Court of Santiago, the company maintained that it had to go through different "exceptional" scenarios that have hindered the normal functioning of its operations.
In this sense, the letter specified that both the pandemic and the war in Ukraine and some weather events related to frost would have caused an economic blow. Regarding the pandemic, it was emphasized that "it affected the logistics chain, with long delays in transit times", in addition to influencing the "quality, final price of the fruit and, therefore, the return of the company."
According to what was stated by Diario Financiero, the company's liabilities exceed $41.879 million, its main creditors being Penta Financiero, Delica Limited and Rabofinance Chile. On the other hand, debts are at $ 54.305 million.
Source: blueberriesconsulting.com
