assistance or pre-bankruptcy of creditors

Critical moment for Hello Luz and his revolution on the roof. Bearish energy prices and a slump in its solar panel business have taken a heavy toll on the company, which just reported annual results in which it quintupled its losses.

In particular, as the company told BME Growth, they lost 26.1 million euros (in 2022 they amounted to 5.12 million). Its turnover remained at 614 million euros (33% less than last year), while its debt rose to 65.4 million (+5% compared to 2022).

2 funds reject accounts

This caused a huge outcry among the company’s board of directors. The company’s founders are Carlota Pi, Ferran Noguet and Oriol Vila. (each owning 14.66% of the shares) supported the reporting and management report.

However, the means Axon (from 16.8%) and Geroa Penciok (6.68%) rejected them. The first holds the position of vice-president of the council, and the second has a member.

Help or pre-bankruptcy of creditors

April 22 and after publication Confidentially article in which they claimed that Holaluz had sent an SOS to the Generalitat of Catalonia, the company indicated through insider information sent to BME Growth that it had everything ready to sign loan of 10 million euros from the Catalan Institute of Finance (ICF).

To the above, they explained, it is necessary to add another 3 million euros with the help of Avançsa, a “convertible loan with several Catalan “family offices” worth about 2 million, and an “equity line” of up to 6 million euros, which “will be used as necessary quantity”.

In the event that this funding does not materialize, they note in the management report, “the board of directors has approved it as an ancillary measure and only then submission of a pre-bankruptcy statement to creditors“.