Engineering and renewables company Abengoa files for bankruptcy

Engineering and renewables company Abengoa has requested bankruptcy after failing to reach an agreement with creditors.

The Seville based firm has requested voluntary insolvency after a proposed restructuring plan to tackle Abengoa’s 6 billion euro debt mountain, unravelled after the Andalusian regional government withdrew an offer of 20 million euros in funding as part of the overall deal.

Board members of the firm – who works in the infrastructure, energy and water sectors – will meet to discuss the future of the business which employs just under 25,000 staff.

Comments

comments