The Santana Cazorla business group, one of the historic conglomerates in the tourism and construction sector in the Canary Islands, has now gone four consecutive years without approving its annual accounts, according to the latest registrations published by the Las Palmas Commercial Registry and consulted by Maspalomas24H. The company has justified the non-approval of the accounts for the 2020, 2021, 2022, and 2023 financial years through certifications from its board of directors. This situation reflects a prolonged impasse in the formal submission of its corporate accounting records and could have significant implications for creditors, shareholders, and financial institutions.
These entries were registered on April 23, 2025, by Grupo Santana Cazorla, SL, according to the registered data consulted. In parallel with the accounting freeze, the group has recently made strategic changes to its corporate and representation structure, which were also reflected in the Commercial Registry on the same date.
Businessman David Sánchez Garrido has been appointed as the new representative of the companies 959 Oliva Inversión Internacional, SL and 947 MSC Inversión Internacional, SL, both holding senior positions within the Santana Cazorla Group. The former holds a board position, while the latter serves as a board member and president of the company. These changes point to a strengthening of the control exercised by the companies linked to Sánchez Garrido within the group's decision-making bodies.
Santana Cazorla has traditionally been one of the largest Canarian capital groups, with diversified interests in the tourism, real estate development, public works, and energy sectors. However, its financial and corporate situation has come under scrutiny in recent years, particularly following the sale of key assets and the halt in the execution of several projects.
The failure to approve accounts for four consecutive years represents a reputational and operational risk, especially in a context of increasing demands for financial transparency and amid a possible corporate restructuring. For now, no official communication has been issued by the company clarifying the reason for the accounting freeze or the plans of the new management team, represented by Sánchez Garrido. Developments in the coming months will determine whether this move represents an internal restructuring of the group or the prelude to more profound corporate restructuring processes.
