Beleaguered Spanish stretch-fibres maker Dogi is seeking buyers for its fledgling factory in El Masnou, Spain, just-style has found out.

The Barcelona-based company has hired real-estate developer and consulting firm Coperfil Construccion to seek buyers for the site, a Coperfil official confirmed without providing more information.

Spanish reports on Wednesday said Dogi was looking for a buyout firm to purchase the site and lease it to it for ten years.

The plan would help the firm raise cash and boost its balance sheet at a time of plunging sales triggered by the global and Spanish recession.

Dogi could not immediately be reached for comment.

The 24,000 square metre El Masnou factory was opened in September, costing Dogi EUR33m to build.

By Ivan Castano-Freeman.