Altonadock planned €17M by 2027 — the court opened liquidation in 2026

Altonadock, founded by Ángel Ortega, was a wholesale story that wanted to become a retail story. In 2023 it turned over €4.5 million with 55 employees, selling through around 100 multi-brand doors and three own stores in Madrid, Galicia and Valencia; online contributed half a million. In March 2024 the group announced a three-year plan: €17 million in revenue by 2027, 300 points of sale, three own stores a year plus two outlets, a push through northern Spain — Vigo, Oviedo, Santander — and international growth beyond Mexico. The plan, management said, would be financed organically.

The organic promise lasted less than a year. In February 2025 the company announced it was opening its capital to finance its growth, and in the same breath its international expansion into Mexico with El Palacio de Hierro. The store push went on — a new point of sale in Granada was announced in May 2026 — while the family office Recarteran held around 30% and the founder remained the largest shareholder.

On 4 August 2026, the commercial section of the Madrid Tribunal de Instancia declared a voluntary concurso de acreedores, processed by ordinary procedure, and opened the liquidation phase directly. The company was suspended from its powers of administration and disposal, replaced by the insolvency administrators Estudio Legal Económico y Concursal; creditors were given one month from the BOE edict to file claims. At the filing, the brand ran two own stores — A Coruña and Valencia — and corners in El Corte Inglés, with a workforce reported at up to 50.

The shape of the case: a plan that multiplied revenue by four in three years, a financing stance reversed within a year of announcing it, and a liquidation opened before the second half of the plan could run. The court's edict did not describe a crisis of product; it described a balance sheet that stopped.