Solidarity stretched thin as cooperative-owned Fagor goes under
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It's the biggest maker of white goods in Spain - for the time being. Fagor has been in existence for nearly six decades, but earlier this month filed for bankruptcy. It's part of the Mondragon collective, whose 80,000 employees are also shareholders of its 300 companies. Yet Fagor has been losing money for years, and the rest of the collective say there's no more cash to prop it up, threatening the jobs of Fagor workers and the capital they've invested into Mondragon.