Hiperion circles GPS

The company has been managed by the courts since its owner, Fernando Ferré Cardó, was sent to prison almost a year ago after being convicted a variety of fiscal crimes.

Local judge Santiago Pinsach will decide by 20 April whether to allow the sale to go ahead. Hiperion has pledged to retain the more than 1,000 job roles linked to the business and revive the group within two years by improving its establishments, opening some of them all-year-round and growing the chain by 20%.

The negotiations are being led by Hiperion head Víctor de la Fuente, who has made multiple trips to Ibiza in recent months to meet with the firm's administrators. Local banks and financial institutions are said to view the prospective deal in a positive light.

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• Topics
• Southern Europe
• Consumer
• Spain