Sierra Nevada Group: Navigating an Economic Crisis and Reorganization Law

2023-07-11 07:00:00

By Jessica Jones July 11, 2023 at 12:06 PM

Hamburguesas Sierra Nevada is one of the best-known restaurants in Bogotá, as its users consider that its product might be one of the best, which is why it has more than 10 service points in the city. However, it seems that it is in an economic crisis, according to the Superintendence of Companies.

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Each year a balance of profits and losses of the companies reported in the country is presented. Above, approximately 1,000 companies generated profits of 137 billion pesos in 2022, but not all companies were lucky, since Avianca, for example, represented a year of losses.

Among those companies that are presenting losses is the Sierra Nevada Group, which is going through a rather important crisis. According to what was reported, the company has liabilities that are more than 90 days past due for a value of $2,013 million:

“Grupo Sierra Nevada SAS is currently in cessation of payments for obligations overdue for more than 90 days, with more than two creditors, obligations that represent more than 10% of the total liabilities in charge of the company as of March 31, 2023”, affirmed the Superintendence of Companies.

What other companies are in reorganization law?

The company is currently undergoing a reorganization law to be able to organize it once more and potentiate the business. But it is not the only one, in fact, companies like Restcafe and Frayco, owners of Café Oma and Presto, respectively, also accepted the law.

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All those who are in said law have the objective of recovering their economy to continue being the big businessmen as they are known.

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