Juan Burg's, rumors of closureTextile company, founded in 1940, could stop working, as recorded by the local press these days of Navarre, who says that since 2005 through a complex situation aggravated by the current crisis.

The direction of the company, based in Cascante, is planning a morning meeting with union representatives, which could communicate any decision to close. According to local press, staff, consisting of 60 workers, claimed the December payroll or pay extra for Christmas. Union sources also claim that management has ensured that the company can not cope with the debts.

Juan Burgos Pamplona, yet firm family roots, filed bankruptcy in February 2005 to not be able to cope with debts of 9.5 million euros, which settled by agreeing to a reduction of EUR 6.5 million payable in five years and from April 2006. Following this process, the company developed a feasibility plan focused on diversifying its business and thereby address the Asian competition.

This plan resulted in the dismissal of nearly half the workforce, which was then 128 workers, leaving 71 employees, of which today only 60. Juan Burgos, a leading textile companies in Navarra, which employs 180 people in 2000.

Originally specialized in processing of cotton yarn and fabric, with time left to focus on spinning, textile production and finishing.