PradaGayoso arranges the sale of Class Plastics’ productive unit to Grupo Taurus


The purchaser will maintain 56 of the 62 employees now in its headcount

Class Plastics

Grupo Taurus has purchased the productive unit of Class Plastics. The Commercial Court (Juzgado de lo Mercantil) no. 9 of Barcelona has authorized the sale considering that Grupo Taurus’ bid was the most advantageous of the two submitted to PradaGayoso, the insolvency practitioner.

Grupo Taurus, a company specializing in the manufacture of household appliances, will get hold of all of Class Plastics’ machinery, premises, equipment, agreements, and licences, and will also maintain 56 of the 62 headcount currently employed by Class Plastics.

In order to preserve keep the viability of the bankrupt company and maximize its creditors’ interests, the sale process of the productive unit was conducted expeditiously, with a large degree of publicity and with submission of two competitive bids.

The sale to Grupo Taurus –which has already been completed– had the approval of the workers representatives.

Class Plastics filed for insolvency on November 22nd 2021, even if the company continued to operate as a going concern at all times. Based in Martorelles, Barcelona, the company operates in the field of the design and manufacturing of plastic moulded parts for the automotive, distribution, retail and healthcare industries.

PradaGayoso’s team in charge of this insolvency proceedings included the lawyer and economist Francisco Prada -the firm’s founding partner-, senior associate lawyer Marta Pinillos and junior associate economist Estela de la Viuda.

Francisco Prada underlined the great interest shown by potential investors in the sale process of Class Plastics’ productive unit. ‘The fact that two purchase bids were obtained by our firm is the best guarantee that creditors’ interests are safeguarded’, he stated.