Papeteries Gregoire under administration

摘要

Epinal commercial court in France imposed insolvency on Papeteries Gregoire again on 3 May. The French paper and board manufacturer has been under the management of an administrator since then (administration judiciaire). Offers for a takeover can be submitted until 27 May. After this date the court intends to take further decisions concerning the company on 31 May. Liquidation could be one of the next steps if no buyer is found. A spokesman of Papeteries Gregoire told EUWID that the company has been hit by rising recovered paper costs and a lack of investment funds. When Gregoire was taken over by a consortium of companies and persons led by Papeterie de Turckheim in October last year, funds for buying plant and machinery were announced but never provided, he explained. Orders and a firm clientele were certainly still at hand, the spokesman said.