In a surprise announcement tonight panrico, Spain’s largest baker and maker pic such famous treats as donuts or bollycao, have said they won’t be paying September’s salaries. 4000 people are affected . The company said it hopes to publish a payment plan later this month. 200 jobs will also be cut.
The recent waves of bank closures in Andalucia got me thinking about the state of the banking sector in the region. Under Manuel Chaves during the boom years, the Junta did all it could to allow the rapid growth of credit institutions in the region. In 2006 the region could boast of being the home of : 5 savings banks (cajas de ahorros) (Unicaja, Cajasol, Cajasur, CajaGranada & Caja de Jaén) 1 bank (Banco de Continue reading The state of the Andalucian banking sector→
The newly formed Catalunya Banc (CatalunyaCaixa) will close all offices in Andalucia at the end of the month, leaving its Andalucian clients with the offer of internet only banking. It only has three offices remaining in Almeria province after having closed several others last year. Catalunya Banc was formed at the end of 2011 by the forced merger of several bankrupt Catalan caixas, and is currently majority owned by the state run FROB. It has Continue reading Catalunya Banc to close all Andalucian offices at the end of the month→