A French court today (30 September) ordered the liquidation of embattled French poultry exporter, Tilly-Sabco, with the proviso that it be allowed to continue trading in the hope of finding a buyer.
The commercial court of Brest authorised Tilly-Sabco “to pursue its activities for a period of two months until 30 November,” taking into account the provision made “to finance the business and pay wages until 30 October.”
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Last week, CEO Daniel Sauvaget informed the Tilly-Sabco’s works council that the company was in an insolvent position.
The Brittany-based firm’s difficulties are largely down to the withdrawal last year of EU subsidies for poultry exports.
