One of France’s leading pork processors, Gad, is on the brink of liquidation amid deepening financial difficulties.
However, ongoing discussions on a possible tie-up with with French supermarket chain Intermarché could save the company.
Go deeper with GlobalData
Since the closure of its plant in Lampaul-Guimiliau last year, with the loss of around 800 jobs, Gad has operated from a single abattoir in Josselin, which employs 950 staff.
Gad’s management has confirmed that, following consultations with its works council, it will later this month file a request to the commercial court in Rennes to open winding-up proceedings.
It is hoping the court will order the liquidation of the company while granting it a two-month reprieve during which it would to continue in business, as well as providing the time for Intermarché or another potential candidate to finalise a takeover bid, a management source said.
See Also:
The liquidation process could begin at the end of this month or early September.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
