Por Redaccion 
Duro Felguera has submitted to the courts in Gijón (Asturias) the request for an extraordinary extension of the pre-bankruptcy process it entered into at the end of last December, in order to extend the deadline until July 31, which was due to expire this Thursday, June 12.
In a statement sent on Tuesday night to the National Securities Market Commission (CNMV), the company and its subsidiaries Duro Felguera Energy Storage, Duro Felguera Green Tech, Duro Felguera Calderería Pesada, DF Mompresa, DF Operaciones y Montajes, Duro Felguera Oil & Gas, Duro Felguera Intelligent Systems, and DFOM Biomasa Huelva have agreed to submit to the Commercial Court number 3 of Gijón, responsible for the company’s pre-bankruptcy process, «the request for an extraordinary extension of the effects of the communication of opening negotiations until July 31, 2025, supported by article 607 of the Consolidated Text of the Insolvency Law (TRLC) approved by Royal Legislative Decree 1/2020, of May 5.»
In this context, the Asturian company has obtained the necessary agreement from the creditors who may be affected by the restructuring.
The company made this statement on the same day that the Minority Shareholders’ Union (SAM) of Duro Felguera asked the company to inform through the CNMV whether it has obtained the ‘green light’ from the courts in Gijón to grant a new extension of the pre-bankruptcy process, which expires this Thursday, June 12, in order to reach an agreement with financial entities and resolve the uncertainty about its bankruptcy situation.
SIX MONTHS OF MEETINGS
In this context, the company requested the pre-bankruptcy process on December 11 before the Commercial Courts of Gijón with the aim of initiating negotiations for the approval of a restructuring plan that would allow for its future viability and the preservation of as many jobs as possible.
Over these six months, the board of directors of Duro Felguera has held numerous meetings to address the underlying crisis in the company, with solutions including the capitalization of the company’s debt by SEPI.
In this scenario, the Government, through its public holding, would have to convert the €120 million it «loaned» in the midst of the pandemic into shares, giving it the majority of the capital.
On the other hand, the controlling partners — the Mexican companies Prodi and Mota-Engil México — and SEPI, which has two seats on the board of directors of Duro Felguera, also discussed the possibility of the Asturian company directly applying for bankruptcy.
Despite this, the company reported a net loss of €98.3 million in 2024, a 36% increase compared to the €72.2 million loss reported a year earlier.