In June 2021, the Cesar Hardware Store began its financial reorganization process after being unable to meet all its debts. Since 2019, the company with more than 50 years of history began to suffer economic and cash flow problems that worsened during the pandemic.
Three years later, in dialogue with THE PYLONmanager Edgar Tapias He said that they are meeting their financial commitments. “In June 2021, the reorganization resolution became final, but we began to pay in 2023 after two years of grace. TWe have all the will and determination to move forward.but we achieved that with the company of the people of Cesar. Of course, we also need the economy to reactivate,” said Tapias.
Cesar’s Hardware Store It was founded in 1968 by the people of Santander Daniel and Mauricio TapiaInitially it had another name, it was not until 1982 when they decided to name it Cesar Hardware Store. At one point, the company had a payroll of more than 75 employees. Since they began their reorganization process, the workforce has been reduced to 25%.
CREDITORS
The Superintendence of Companies The Court determined that the reorganization process aims, through an agreement, to preserve viable companies and normalize their commercial and credit relations. In this case, Ferretería Cesar established an agreement to pay off its debts in 10 years.
The creditors were organized into 4 groups. The first consisted of work commitments, but the company has already canceled them. The second is made up of debts to the public sector, especially to the DIAN and the Mayor’s Office of Valledupar. “To the DIAN We have paid 90% of the debts. With the Mayor’s Office we have 20%“, he said Edgar TapiasThe third group is mortgages and the fourth group is suppliers.
But what led a company with more than 50 years of history to this financial crisis? Manager Edgar Tapias said that several contractors scammed them. “Contractors who came to the department and the municipality to do public works, but left without paying. Large debts remained. “That affected our cash flow,” he began.
Tapias explained that to fulfill the orders they requested loans from the banks, they delivered the materials, but they were never paid. “When we were going to execute those companies they had nothing in their name. “They already know how to act,” he said. Tapas. Likewise, city builders failed to comply with payment agreements. For this reason, there are complaints of fraud before the Prosecutor’s Office.
“Adding all this together gives a significant figure, and the interest with interest it becomes an unpayable bill“, said the businessman. Finally, he said that they have a team committed to getting the company out of this crisis. “Most of our employees have been with us for many years. There is competitionbut we provide added value with a personalized attention, quality service, advice and delivery of the product on your site”, he concluded.
“The hardware store is not one of the Tapiasis from the Caesareans. These are not prosperous times like beforebut we are taking measures and we hope to have the support of the vallenatos“said Germán Tapias, who was manager for several years.
