Ternua Group Has Filed for Bankruptcy Due to Its Inability to Pay Its 16 Million Euros Debt.

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The textile group Ternua, based in Arraste, has presented this Friday a voluntary creditor contest in the Commercial Court number ...

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Ternua Group, a textile company based in Arrasate that markets its products under the brands Ternua, Astore, Lorpen and Loreak Mendian, has presented a voluntary creditor contest because it cannot face, according to the argument, a “critical” situation of the textile market on a global level that has impacted directly, with negative results both in 2023 and in 2024. This decision affects a workforce that amounts to 180 people.

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The changes in consumption caused by the pandemic have put one of the symbols of the Basque Country's clothing industry, Ternua Group, in serious trouble. The Arrasate-based group is known mainly for its mountain clothing, and its sales have fallen sharply recently, which has left a deep hole in Ternua's accounts. It has suffered losses in the last two years and, unable to pay its debts, has filed for bankruptcy. As a result, Ternua will be plac…