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TODAY in Ibiza and Formentera
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The Citubo fire represents between 10 and 15 million euros in losses

The Citubo fire represents between 10 and 15 million euros in losses

Josep Angel Costa

Thursday, June 06 2024, 6.34am

The Citubo warehouse fire in Ibiza has resulted in potential losses estimated between €10 million and €15 million, according to co-owner Antonio Palau. The company plans to rebuild, contingent on sufficient insurance compensation. The fire destroyed materials worth around €5 million and necessitates the dismantling and rebuilding of the warehouse, a process expected to take two to three years. Citubo intends to retain its 42 employees for at least a year. The Balearic Government and local authorities have expressed support, emphasizing the need for infrastructure safety. The firefighters’ efforts prevented the blaze from spreading to nearby facilities, showcasing effective emergency coordination. For the full article, please visit Diario de Ibiza website here.