Nothing happens by accident in a high-stakes corporate restructuring. The crisis currently shaking the historic Barcelona-based logistics group had been orchestrated since November 2023.
In a textbook move, Transcoma Grupo Empresarial —the holding under the absolute control of businesswoman Beatriz Cryns and the management of Ildefonso Cordero— began absorbing key subsidiaries. The strategy aimed to concentrate the operating muscle of a network that had generated €163 million in revenue and moved assets worth €92 million, setting the stage to isolate operating losses from the profitable core.
In the Canary Islands, its impact falls on Hamilton and Cía, which is trying to get rid of, at speed, its business tied to the naval repair terminal under a sale agreement for that concession to the Greek group Laskadiris.
Sacrifice
With a financial hole driven by a bank liability of €25 million and accumulated losses of €3.7 million over recent years, the leadership shifted its pieces to the most exposed pawn.
In December 2025, Transcoma Global Logistics S.A. renewed its executive leadership to reassure the market, while in January 2026 it brought in the auditor GNL Russell Bedford.
The masterstroke was staged in May 2026 with a 1,064.63% capital increase, injecting €2.58 million to raise capital to €2.83 million. A book-style overfeeding designed to mask the balance right before offloading the burden.
Discard
On 30 June 2026, after the capital increase had been completed and the group’s working-capital squeeze fully sealed, the management dropped the weight: it filed for voluntary creditor insolvency for the logistics subsidiary in Commercial Court No. 12 of Barcelona.
With €60 million in trade debtors trapped by the crisis, the insolvency proceedings for the cargo division served as a legal firewall, allowing the financial blow to be absorbed within a defined entity and protecting the rest of the structure from creditors’ reach.
Isolation
But the real, Machaivellian challenge was carried out with surgical precision just three weeks later. On 22 July 2026, while the court was barely processing the subsidiary’s insolvency, the Official Gazette of the Commercial Registry published a massive batch of appointments.
The parent company simultaneously secured control by appointing strongly connected attorneys-in-fact linked to Juan Serret Huarte and Francesc Lucena Villoslada, across more than a dozen group companies — such as TCT, Silvertrans, Transcoma Cruise or Nautek Forwarding.
A lightning maneuver to ensure control over vessel consignments, the transient business, and the Damacor real-estate assets, leaving the shell of the problem in the court while the true business remains intact.
The entry Transcoma’s chessboard: the sequence behind the collapse of its freight operator to shield Canary Islands business was first published on canarymaritime.com.
