Tilly-Sabco International, the France-based meat products supplier, has entered administration for the third time in four years.
The company, acquired by Dutch food group Wegdam Holding in 2016, was placed into administration by a court in the French city of Brest today (27 March).
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According to reports, the court has put Tilly-Sabco into a period of observation for just under two months. A new hearing is scheduled for 22 May.
just-food tried to contact Wegdam director Brian Wegdam for comment but was told he was out of the office and no-one else could speak to the media.
According to reports, Valerie Léger, a lawyer for Tilly-Sabco, pointed to “extremely difficult” market conditions and “very tough competition”. Léger said finding a new buyer was one of the options being considered for the future of the business.
just-food approached Léger for comment but she had not responded at the time of writing.
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By GlobalDataWegdam, based in the Netherlands and one of the largest exporters of frozen foods to Africa, acquired Tilly-Sabco in December 2016.
The company beat off competition from interested parties – including French poultry giant LDC – that had tabled bids for either part or all of Tilly-Sabco.
Wegdam said at the time the takeover would “directly save 61 employees from redundancy”. Wegdam said it expected the new asset to “grow to over 100 employees”.
