Adveo Spain and Calipage Spain request court to open liquidation proceedings
| 21 January, 2019
ADVEO Spain and Calipage Spain have requested Spanish court to open liquidation proceedings for the two companies. This procedure will result in the termination of employment contracts.
ADVEO Group International and ADVEO Global Services will also be entering insolvency proceedings with employees asked to appoint representative to work with the trading commission upon liquidation. The number of employees affected is not known.
Earlier this month ADVEO accepted a binding offer from American private equity group Sandton Capital Partners for its subsidiaries in France, Belgium and Italy as well as ADVEO Global Services for between 13.3 and 15.5 million euros. The Toffer by Sandton excluded Spain, Portugal and Germany as well as ADVEO Digital Systems and ADVEO International.