Bad news: Sunsundegui has initiated pre-bankruptcy proceedings

This is not exactly a bolt out of the blue, as some rumors had been circulating for a few months, and today the news came: the Spanish coachbuilder Sunsundegui has initiated pre-bankruptcy proceedings.

Also weighing on the crisis was Volvo’s halt to the production of the 9700 and 9900 range, which had initially been entrusted to the Alsasua entity.

Now, due to a lack of liquidity, the company has begun the process of renegotiating its debt with its investors. In the balance, unfortunately, are the more than three hundred employees.

Navarre’s Minister of Industry, Ecological Transition and Digital Enterprise, Mikel Irujo, as reported by several Spanish media outlets – such as the local daily eldiario reported – Sunsundegui’s situation as “extremely delicate.” Despite a 2025 revenue forecast of 80 million euros, with orders for the production of about 500 vehicles, the problem is the inability to meet immediate payments due to a lack of liquidity. This fact, combined with a debt of 48.8 million euros, has forced the company to resort to pre-bankruptcy proceedings. The company’s debt amounts to 48.8 million: from 8.9 million from suppliers and 39.9 million from financial debts

The consulting firm KPMG (one of the so-called Big Four), which produced a business plan for the company, also spoke of an “oversized” workforce, currently consisting of more than 300 employees.