The story of Ormeño, a firm that dominated interprovincial transportation and ended up bankrupt after years of success.
Ormeño was one of the main transportation companies in Perustanding out for its capacity for expansion and its focus on innovation. Over the years, it achieved international routes and a fleet of cutting-edge vehicles. However, the story of this successful firm ended with a momentous fall due to poor decisions and management.
This note reviews how this company went from being a giant in its field to ending up bankrupt, facing financial problems and criticism for its service.
What was the history of Ormeño like?
The company started in 1976 under the vision of Joaquín Ormeño Cabrera. Since its inception, the firm stood out for its capacity for innovation, being a pioneer in bringing to Peru the first double-decker buses in 1977. This investment in technology was just the beginning of a series of strategic moves that consolidated its position in the market.
Over the years, this project expanded its presence nationally and then internationallywith routes to Chile, Colombia, Venezuela, Bolivia and Argentina. In 1996, the firm managed to obtain a Guinness record for being the first to operate double-decker buses in South America, which further strengthened its reputation in the field.
ormeño buses.avif
How Ormeño ended up bankrupt
In 2011, the company began to face serious financial problems. Sunat detected a debt of 76 million soleswhich led to the seizure of several assets of the firm, including vehicles and properties. Although the debt was managed to be settled, the internal crisis had already begun.
In 2010, after the retirement of Joaquín Ormeño Cabrera, his son Julio César Ormeño Malone assumed the presidency. However, under his leadership, the company began to suffer a series of failures in administrative management. The lack of investment in the renewal of the bus fleet and the deterioration of the service were key factors that contributed to the loss of competitiveness.
As other companies in the sector began to offer more modern units with better services, Ormeño could not keep up. User complaints and labor disputes worsened the situation, leading the firm to bankruptcy.
Source: Ambito
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