Business · Companies · 7 hrs ago

Vivanta closes all its dental clinics as it awaits EU decision

Vivanta closes all its dental clinics as it awaits EU decision

Vivanta has closed all its dental clinics after running short of money.

The Spanish group’s sale to Donte Group, which owns Vitaldent, expired on 21 October.

The proposed deal was held up while the European Commission considers whether the sale affects a €40 million public rescue loan given to Vivanta in 2022.

The insolvency process is now moving toward an orderly liquidation, with the closures intended to preserve the company’s remaining cash.

Donte Group’s offer covered 61 of about 130 clinics and included plans to take on 656 employees and continue 30,000 dental treatments.

The closure puts those clinics and treatments in uncertainty, while the insolvency process itself remains open.

A European Commission decision could allow new offers for all or part of the business, including a possible renewed bid from Donte Group.

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FTI & Partners insolvency administratorInsolvency administrator
until the week of 16 to 22 October. At the end of that week, after the payments necessary to continue operations had been made, available cash would be 26,125 euros
via El País