Renta 4 | Tubos Reunidos has informed the National Securities Market Commission (CNMV) that, on 4 May 2026, its Board of Directors approved the application for voluntary administration. The application has already been filed with the competent court in Álava.
The decision has been taken due to the cash flow difficulties faced by the company, exacerbated by the shutdown of operations at its Amurrio plant, which have led the company to a situation of imminent insolvency.
The Board of Directors had been working on a viability plan to ensure the group’s continuity. However, the necessary conditions for this plan could not be met, notably due to the lack of significant cash inflows.
Assessment: Negative impact. The CNMV has announced the suspension of trading in the share. The news confirms the worst fears the market had been entertaining in recent weeks. The inability to refinance the debt and secure fresh liquidity, coupled with the operational problems arising from the plant shutdown, have led to the filing for insolvency.
Recommendation and Target Price under review
