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Breakingviews: Gowex bankruptcy

Monday, July 07, 2014 - 04:00

July 7 - Gowex was a poster child for Spain's recovery, but record high bankruptcies continue to threaten tens of thousands of small companies, which continue to struggle with debt left over from the crisis.

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Spanish wife five robotic Alex is set to file for bankruptcy often its chief executive admitted to cooking the books. Here to discuss breaking views Chris she's Chris thank you so much for joining us. Alex is one of the brightest stars on the Madrid stock exchange this isn't more than just about as company that's fine -- back seat isn't it. It is tempting to say is the inning and we had a small genius that company people should've expected it. In the riskiest is not the first. Company on -- premium OK it to have problems. Like this. I can remember that this was how Obama. By many accounts of the poster child for Spanish corporate renewal if you like so you. For it there are actually rumors to have false accounts. And -- -- five -- bankruptcy that could have quite serious Mohamed faces I think it's gonna do more than just ten people wolf. You know junior stalls in the big conservative movement across the year is and is where. In his small company is more risky company is getting access but I -- finance. So who -- even -- you have this kind of mad rush to kind of yours and government that right now. If food furthermore risky policy the economy. House. Questions raised about whether you really want to broaden its finances comes at a very volatile. It is you win you say it's not sit in the name -- Heinz of high profile bankruptcies like has committed panel says things yet. What stage if we if we look at Spain itself what does it say about -- for Spain. I wouldn't single out Spain. -- on it saying it in it. That Ford is poor to is very very -- because -- what definition. If Fortis holds the tax. And in the past and in the personal and Wharton junior missed its. So. I think it's hard that's hard to say that's those sort of greater risk around. Rounds with -- Stalks with a where the main market -- to do tremendous things. As a result of it's. In an actuality. But it has the the you resonance so it is going to be in there is going to be. Very very strong. Results of this to be the cause of walls held off against the fragile economy that really struck a way. And as redeemed in for us in this signs of -- For the continent that the through some of renewal -- -- like this it's it's gonna have looked different and it. -- make it difficult for companies wanting to come to market wanting to raise finance and indeed. In fact what way to -- is all going to be more cautious. -- your house do you have some effects of the motions in the oval we have a -- seeing a really strong. Election. -- in Europe in the first half of this year. So news. That's not forget investors. Who don't generally that and then to confront yourself predispose them to looked like you know IPOs but. Lately there has been a bit of a sign is indigestion. Says it to -- -- Evidence harvest companies are risky. Right now -- European markets were coming off -- forward cannot help. Right thank you very much check Christie is it from breaking these. Talking about the impact. Of -- -- linking to file for bankruptcy I'm nineteen song and this is voices.

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Breakingviews: Gowex bankruptcy

Monday, July 07, 2014 - 04:00

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