 On October 16, 2013, Fagor Electrodomésticos filed for protection from creditors while it tried to refinance and renegotiate its €1.1 billion of debt under Spanish law, after suffering heavy losses during the European financial crisis.On November 6, 2013, Fagor Brandt, the French subsidiary of the Spanish appliance manufacturing group, which employed 1,920 people, announced its bankruptcy and was placed under receivership in early 2014, before being divested and taken over by the Algerian conglomerate Cevital Group.Later Fagor Electrodomésticos officially announced its bankruptcy as well and has been taken over by Spanish appliance manufacturer CATA Electrodomésticos (CNA Group) in autumn 2014, adding 155 new jobs.