españolClosing of Companies: Counting of the DamagesWednesday, December 16, 2020 In the first quarter of 2020, just before the crisis generated by covid-19 began, there were 72,972 formal businesses registered in Costa Rica. In the second quarter the figure fell 6% and by September there was a slight recovery. Data from the Costa Rican Social Security Fund indicate that between the first and second quarters of the year the number of registered companies fell from 72,972 to 68,946. At the end of the third quarter the figure recovered slightly, with 69,412 companies registered. Businesses in Panama Requested to Be ClosedFriday, March 20, 2020 Due to the spread of covid-19, from March 21, 2020 and for a period of 30 days, the government has ordered the temporary closure of shops and businesses in the country, with the exception of pharmacies, supermarkets, banks, gas stations and others. The Ministry of Health considers it necessary to apply additional health measures to reduce, mitigate and control the spread of the disease COVID-19, in view of the pandemic declared by the WHO, explains the decree published in the Official Journal. Sanborns Closes Operations in PanamaMonday, January 13, 2020 The chain of department stores that had a branch in the Panamanian market, announced that since January 12 it stopped operating in the country. The company made the announcement official on the morning of January 11, but in its publication broadcast on social networks, no further details were given of the reasons that motivated the chain to withdraw from Panama. Costa Rica: Mabe Closes Refrigerator Production PlantFriday, December 4, 2015 The manufacturer of cookers and refrigerators is transferring to Columbia the refrigerator production line it has thus far operated in Costa Rica, where it will maintain a corporate center for the region. Mabe explained that the reason is due to a change in the technical rules in some Central American and Caribbean countries where they distribute their products. In order to comply with this regulation, it became "... necessary to make modifications to the production line and product design," said Pablo Moreno, director of Corporate Affairs to Elfinancierocr.com. Guatemala: Changes in "Fast Food" MarketTuesday, August 11, 2015 The chain of fast food restaurants Quiznos, operating since 2004 with twelve outlets, has closed its operations. The union of restaurants in Guatemala confirmed the closure of the chain of US origin, which in March 2014 began the process of acceding to Chapter 11 bankruptcy. Salvador Contreras, union representative, told Elperiodico.com.gt that "... officially no reason for the closure is known or if there is an operation with firms that are replacing the brand." Panama: Bank Liquidation AuthorizedTuesday, May 29, 2018 The banking authorities of Panama have authorized Banco Santander to initiate a voluntary liquidation process. Despite, that the resolution by the Superintendency of Banks in which the voluntary liquidation of the entity is authorized, dated from December 22, 2017, it was not until this Monday, May 28, 2018, when it was published in the Official State newspaper, La Gaceta and the measure acquired legal force. Fast Food Chain in Costa Rica ClosesMonday, October 5, 2015 Burger King Costa Rica has announced the closure of 29 restaurants operating in the country, after a decision was taken by shareholders and the franchisor BKC US. Since February the franchise has closed four of its stores in the metropolitan area, citing a lack of financial viability. Guatemala: Pressure From Tax Audit OfficeFriday, March 1, 2013 So far this year one hundred businesses have been closed and another 1,200 are being targeted by the authorities because of invoicing problems. Siglo21.com.gt reports that "the head of the Tax Authority (SAT), Miguel Gutierrez, said that so far this year, 100 businesses have been closed temporarily and at least 1,200 are under observation, all of them for billing problems or because they did not deliver invoices to their customers. " Panama: Forced Liquidation of Brokerage FirmFriday, June 10, 2016 Citing several irregularities during the intervention process, the Securities regulator decided to order the liquidation of the brokerage firm Panama Wall Street. From this moment forward, investors and creditors of Panama Wall Street S.A. must present themselves at the company's premises to declare the amounts owed to them and start due process with the authorities who will lead the settlement process. Bank of America Closes Service Center in Costa RicaWednesday, April 9, 2014 The company has announced the phased closure of the operation in the country and the laying off of 1,500 workers over a period of 9-12 months. In addition to the service center specializing in finance and technology in Costa Rica, the U.S. bank will also cease operations in the Philippines and Mexico, as part of an overall process of re structuring of the company. Order to Liquidate Cooperative in PanamaFriday, March 22, 2013 The Panamanian Autonomous Cooperative Institute yesterday ordered the liquidation of the Savings and Credit Cooperative for Employees of the Social Security Fund, due to irregularities in its operations. Cooperativa de Ahorro y Crédito Empleados de la Caja de Seguro Social (Coacecss), was seized in June last year, triggered by an "administrative and financial deterioration" in its handling, specifically for opening foreign accounts for excessive amounts on the entity's balance sheet. Costa Rican Plastics Firm Moves to NicaraguaThursday, August 28, 2014 A company producing polyethylene products has closed part of its operation in Costa Rica due to the high cost of production in the country and transferred its factory which is now operating in Nicaragua. The high costs that firms have to incur to produce competitively in the country is the main reason behind the partial closure of the Yanber company's operations in Costa Rica and its transfer to Nicaragua. Business Operations in Guatemala Become More FlexibleWednesday, March 18, 2020 One day after the suspension of work in the private sector, authorities reported that all companies complying with the health and safety protocol will be allowed to continue operating. On the night of March 16, public and private sector work was reportedly suspended, and shopping centers, bars, and discotheques were ordered to close, while public transportation was prohibited, in an effort to contain the spread of covid-19. 3.400 companies close their doors in GuatemalaWednesday, October 14, 2009 By the end of September 3.445 companies have stopped operating, representing a 15% increase compared with the same period of 2008. The Superintendencia de Administración Tributaria (SAT), the tax and revenue service in Guatemala modified the necessary steps that a company needs to follow in order to close its doors, with the purpose of easing the procedure. Clothing: Company Closes Operations in NicaraguaWednesday, April 14, 2021 New Holland, a company engaged in the manufacture of clothing and which has been operating in the country for 15 years under the free trade zone regime, announced that it will close operations in the last days of May. The company's decision to leave Nicaragua is due to the fact that the country does not have the adequate technological machinery to compete with the garments it manufactures for the Under Amour, Nike and Adidas brands. |
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Wednesday, May 18, 2022 - last update: 5:24 pm
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