COVID-19 CABRERA RODRIGUEZ – LETTER FROM THE DIRECTOR 3

Dear clients,

Almost two weeks have passed since the declaration of the state of alarm. We have tried to keep you permanently informed and documented with all the regulatory developments that have been approved and published during these days. At the same time, we wished to transmit a message of support in our attempt to turn it into effective help and assistance in the difficult situation of making managerial decisions at the moment.

Most of you have already taken the first relevant decisions, which were basically focused on restructuring labour costs. It is time to immediately put the focus on properly assessing the position, not only in the short term, but in the middle. Issues such as the negotiation of the rents that you may be bearing acquire immediate prominence and taking the initiative to request liquidity from financial institutions as well. It is time to try to gain additional liquidity, even though you may understand that it is not necessary. Doing it on time and doing it well can make a difference in the coming months, which are presumed complicated, placing you in a very advantageous strategic position.

Finally, paying attention to reviewing whether our personal financial situation is properly planned and our assets duly protected can also be a great added value, in order to generate tranquillity in our closest environment, thus facilitating that our greatest efforts turn to passing this crisis in the best possible way, without unnecessary stress or distraction. Now that the voluntary period for the submission of the Personal Income Tax declaration and Wealth Tax Declaration begins, a magnificent opportunity arises to do so. Our entire team is ready to assist you.

We remain, we continue, at your disposal.

Best regards,

Octavio Cabrera Toste
Socio Director – Managing partner