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Pharmed, once one of the largest Hispanic-owned firms in the country, declares bankruptcy, owing more than $60 million.
Tagged: FloridaPosted on: October 30th, 2007
Just four years ago Pharmed earned brothers Carlos and Jorge de Céspedes $48 million in profit. Now the company has filed for Chapter 11 bankruptcy protection, declaring debts of more than $60 million.
Once one of the nation’s largest Hispanic businesses, the company stated in court documents late Friday it owes Comerica Bank about $17 million in loans secured by Pharmed property and the personal assets of the de Céspedes brothers and their wives. Pharmed owes another $45 million in unsecured debt, including $16 million the brothers loaned the company”*
Curation from Tomás
Filed Under: 1. Hispanic News, Business, Business News, Top Stories
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