Companies exodus continues – Codorniu heads for La Rioja

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One of Cataluña’s most emblematic companies, cava-producers Codorniu (established in 1551), has announced it is moving its fiscal address to La Rioja (Spain’s most well-known wine producing areas) due to the ‘inestability’ created in Cataluña over the independency bid.
Since the illegal referendum was held on October 1, 540 companies – including Caixabank, Banco Sabadell, Gas Natural Fenosa and Planeta) have moved their address from Cataluña to other parts of Spain.
Codorniu’s main competitors, Freixenet, has thretened to do likewise if independence is proclaimed.

 

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