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Gabilondo Llama y Cia SA [manufacturer in Spain] filed bankruptcy and closed in 1999. A group of employees then decided to set up a cooperative society and created "Fabrinor Arma corta Microfusion & SA" and continued production of Llama pistol. Despite its strong growth momentum and profitability gained, the huge financial liability of Llama Gabilondo and the refusal of a moratorium of debts by creditors in 2003 led to the business being shut down.

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17y ago

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