Tackle maker Grauvell files for judicial administration
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Grauvell, the Spanish tackle manufacturer, has gone into judicial administration, the Spanish equivalent of liquidation. Staff and customers have been informed of the situation.
An administrator has been appointed although the factory is still operating in some capacity as the company attempts to clear stock.
The Barcelona-based business was recently hit with a €600,000 fine following a long-standing dispute in France related to the breaking strengths of one of its fishing lines.
Founded in 1966 and owned by the wealthy Pintat family, the Grauvell brand is known the world over. The current General Manager is Adria Pintat, whose grandfather was President of Andorra.
There has been a change of management in the company in recent years and it has experienced difficulties in what was once one of its biggest markets, France.
Several factors have clearly contributed to the company’s demise and it would appear that the Pintat family does not want to put any more money into the business.
Grauvell is best known for its saltwater rods and reels, but more recently entered the freshwater market with a focus on carp.
The last financial report filed by Grauvell, declared in September 2018, revealed a turnover of more than €9m for the previous two years and a loss of €4.6m. Staff numbers at the Barcelona HQ were reported as 16.
Angling International was unable to get a comment from Grauvell at the time of going to press, but will update developments if further information becomes available.