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The Valle del Cauca company reported that its decision is due to internal and market situations that were aggravated by the Covid-19 pandemic.
Almacenes La 14 reported this Friday that it will start a business reorganization process before the Superintendency of Companies for the financial difficulties it has had in the last year.
As explained in a statement, the chain would have faced complex internal and market situations that were accentuated with the arrival of Covid-19 and that could not be overcome despite multiple strategies implemented by the company.
By declaring insolvency, a company can try to reach a payment agreement with its creditors and have the opportunity to save its businesses (if there is no agreement or the agreed payments are defaulted, the company is wound up). The 14 assured that he decided to go to the business reorganization process to protect creators, allies, collaborators and shareholders.
Last November, the company announced the closure of its only store in Bogotá. Today it has 26 points of sale in Valle del Cauca, Popayán, Pereira, Manizales, Armenia, Girardot and Neiva.
Also read: Almacenes La 14 leaves Bogotá
“Almacenes La 14 SA thanks the clients and the group of suppliers and allies for the understanding and support they have shown throughout our more than 55 years of existence, which encourages the continuity of a key company in a socioeconomic ecosystem that will continue to contribute to the development of the region and the country. The shareholders, the management team and the 3,295 direct collaborators of La 14 are convinced that this new stage will strengthen the company ”, concluded the organization.
