The Aquapura Hotels Villas & Spa, established in 2007, has been declared insolvent. In November 2014, Aquapura Hotels Villas & Spa petitioned the courts for the opening of a Special Revitalization Process (PER), a procedure which allows companies in serious financial difficulties to use judicial administrators to establish the dialogue with creditors. Thirteen companies declared they were owed money by Aquapura Hotels Villas & Spa, with the total debt calculated to have reached €46m. Among the creditors were Caixa Geral de Depositos and Banco Português de Gestão (Portuguese Bank Management). Lenders have now less than 30 days to declare their claims against the company.
