French poultry processor Groupe Doux has won court approval for its request to extend its period in administration.
Doux’s time in administration was set to end on Thursday (28 February). However, a court in Quimper has extended that period to May, a Doux spokesperson confirmed today.
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The processor went into administration in June amid EUR430m in debts. It is reshaping its business, including laying off jobs across its operations.
However, Doux has set out plans to invest EUR35m to modernise its plants as it looks to revitalise its business.
The company has insisted it is now profitable. In 2012, it generated turnover of EUR530m. In 2011, Doux reported sales in France of EUR830m. No data for the group as a whole for that year were available as just-food went to press.
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