IEG Vu is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. Please do not redistribute without permission.

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Doux admits it may ask for legal intervention in France

The French group Doux, which in Brazil recently leased its chicken processing plants to JBS, has said it will try to deal with creditors in France, but it may request the appointment of an intervener - a type of bankruptcy in which an independent trustee is appointed to resolve the debt, reports Dow Jones Newswires, citing the French agency AFP.

"We are dealing with two options: reaching an agreement with our partners or announcing this measure," said a spokesman for the company. It would help the company out given its unsustainable debts and isolate its French operation from the heavy losses made at the Brazilian subsidiary.

Both outcomes are possible, according to the same source at Doux, which is the fifth-largest chicken exporter in the world, with customers in 130 countries. The company has 3,400 employees in France and in 2010 reported sales of € 1.4 billion. The market estimates Doux’ debt at € 437 million, including € 200 million at the Brazilian subsidiary, Doux Frangosul.

Information provided by Valor Economico

Advertisement

Topics

What to read next

Advertisement
UsernamePublicRestriction

Register

CO193486

Ask The Analyst

Please fill in the form below to send over your enquiry or check the Ask The Analyst Page to find out more about the service

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel