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Colombian textile company, Fabricato, reported million dollar losses in the first quarter of 2012.
Fabricato lost $5.6 million in the first three months of 2012. The losses take the company back into the red following profits of $1.46 million during the first quarter of 2011. In 2010 and 2009 Fabricato also reported first trimester losses.
Fabricato reported to Colombia’s Financial Superintendent during 2012 it had paid off $307,000 to its creditors under Law 550 – Colombia´s bankruptcy law – and now owed $870,000.
Fabricato, formerly Textiles Fabricato Tejicondor, was founded in 1920 and exports wools, cottons, and home decorations among other products to Latin America, the U.S. and Europe.
