The outlook for the pioneering Ananas Anam company, known for its textile innovation, is bleak. Founded in 2013 by the Spanish Carmen Hijosa, it owns a range of sustainable solutions for the textile industry, including the vegan pineapple leather sold under the Piñatex brand. It is currently in preliminary insolvency proceedings in Spain and under receivership in the UK.
Ananas Anam is the owner of the brands “Piñatex”, “Piñayarn” and “Anam Palf”. The company sells its revolutionary, sustainable solutions for leather, yarn and premium leather under these brands. All are developed from organic waste generated during pineapple cultivation. The company initiated preliminary insolvency proceedings in Spain in July 2025. According to information from FashionUnited, at that time the textile company filed a writ with the number three commercial court in Barcelona. The court was informed that a negotiation phase would be initiated with the creditors. The aim was to achieve a debt restructuring plan in order to avoid insolvency proceedings and, in the worst case, liquidation.
After filing this brief on July 14, Ananas Anam received a response from the court in the form of an acknowledgment of receipt on July 18. The Spanish company thus entered the so-called preliminary insolvency proceedings. The court set the statutory deadline of three months for such proceedings. This protects the company from bankruptcy filings until November 15, 2025. If a moratorium is not agreed after this date, Ananas Anam will have to file for bankruptcy. This also applies if the company cannot restructure its debts or reach an agreement with potential investors.
According to the court order, creditors “may not initiate judicial or extrajudicial enforcement measures against assets or rights necessary for the continuation of Ananas Anam’s business activities.” At the time the negotiations were announced, the company said it had an accumulated debt of €3.22 million. The company argued that in order to continue operations it needed the protection and continued use of its production machines. Equally important are the IT equipment for order management, the protection of trademark rights and access to the industrial facility in the Can Misser commercial area in Canet de Mar, Barcelona.
Heading for liquidation
Parallel to the measures in Spain, the company went into receivership in Great Britain on August 19th. The parent company Ananas Anam UK Limited is based there. It also operates two subsidiaries for its business in the Philippines and Spain: Ananas Anam Philippines with 15 employees and Ananas Anam España with 20 employees. This came just three days after all UK employees were laid off and their back wages paid on August 16th.
Neil Bennett and Alex Cadwallader of Leonard Curtis were appointed joint receivers of Ananas Anam UK Limited on August 19. This was done as part of the company’s orderly insolvency and liquidation process. Leonard Curtis is a British company specializing in restructuring, insolvency and financial advice. Ananas Anam had already contacted the company in December 2024 to check the company’s situation. The investigation concluded that Ananas Anam needed an immediate capital injection.
In response to these results, management contacted potential investors and buyers, particularly Fresh Del Monte. Fresh Del Monte invested 300,000 euros in the company to finance operations during ongoing takeover negotiations. These funds were supplemented at the end of May by a financial injection of 100,000 euros from Compagnie Frutitière. This was intended to cover the salaries of the employees while a possible sole rescue of the company was examined.
Both negotiations failed. Ananas Anam UK Limited is the owner of the rights to the trademarks “Piñatex”, “Piñayarn” and “Anam Palf”. The company therefore had no choice but to apply for receivership on August 19th.
As a final update on the company’s position, following their appointment on September 25, the receivers have submitted a report outlining the plan of action they intend to implement as receivers of Ananas Anam UK Limited. This document has already been approved by the company’s creditors. It openly states that rescuing the company as a going concern is not seen as a realistic option and is therefore destined for liquidation. For this process, they also warn that it is “unlikely” that unsecured creditors will get their investments back. The focus is on the only likely scenario that secured creditors recover part of their investments through the sale of the company’s assets.
- Ananas Anam, the Spanish company behind the vegan leather Piñatex, has initiated preliminary insolvency proceedings in Spain and receivership proceedings in the UK.
- The company’s Spanish subsidiary had accumulated debts of €3.22 million and had begun negotiations with its creditors when the British parent company finally went into receivership after failed rescue attempts.
- The receivers in the UK have ruled out the possibility of rescuing the company as a going concern. They are now focusing on a liquidation process that involves the controlled sale of assets so that secured creditors can recover some of their investments.
This article was translated from English using an AI tool.
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