Business

Spanish Tech Star Files for Bankruptcy

Its name once stood for success. That is, until former boss Jenaro Garcia Martin admitted cooking the books. Now Gowex is at the heart of an accounting fraud—and lawyers have confirmed they've filed for bankruptcy. While Martin remains silent. ''I'm not going to make any statements,'' he said. At the same time, Gowex workers came out on to the streets of Madrid to say they wanted to keep the company going. A spokesman saying he and his 150 colleagues were completely helpless.

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