ANDhe Sencorp Group, of the Senerman family, requested the opening of a judicial reorganization process to avoid bankruptcy. “We have made a difficult but necessary decision,” the conglomerate announced.
From the company he signed up to “an earthquake lasting 35 months that started with the social outbreak and continued with the pandemic, in addition to internal and external economic factors that caused a severe rise in costs, inflation and a brake on demand”. Additionally, it was highlighted that the sanitary restrictions affected the vacancy in office, parking and commercial leases.
Through a statement, the group noted: “They are choosing to get ahead and be responsible with workers, suppliers, creditors, customers and strategic partners,” and that given the circumstances, the reorganization is “the best decision because they are viable, they have excellent assets and value projects in development that allow them to continue operating and project the company for many more years.”
“A 35-month-long earthquake that started with the social outbreak and continued with the pandemic,” the company said.
Ricardo Senerman, president of the Sencorp group.
Debt total is close to $227 billion. Of these, as explained, $178 billion are from its investment and income business, and its creditors include Banco del Estado, BCI, Internacional, and Scotia. The other $49 billion are from the investment unit in real estate development projects, and its creditors include Banco Consorcio, Tanner and Logros Servicios Financieros.
Grupo Sencorp has been developing real estate solutions for almost 60 years; residential and office projects.
The company was founded in 1962 by Abraham Senerman, currently working at his office ASL Arquitectos. Today, Grupo Sencorp is majority controlled by Ricardo Senerman. With 3.5 million square meters built, one of its relevant milestones is the development of the financial district of Santiago.
The group is also recognized for the development of residential and rental projects in the Metropolitan and Valparaíso regions.