Fashion retailer Blanco has announced the closure of its 102 shops and the dismissal of 850 employees. Blanco is declaring insolvency for the second time in Spain (and Portugal) in three years, after the current owners, AC Modus, did not find an ‘ideal investor’ for the business. AC Modus only acquired the company recently. Blanco had told employee representatives in September that it planned to launch a redundancy scheme that could affect a significant part of its workforce. The company said during those talks to respect a 30-day consultation period with the aim to reach an agreement with as many workers as possible.
English: http://www.spanishnews.es/20161210-spanish-fashion-retailer-blanco ...
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