In difficulty since the energy crisis of 2022, the Orléans commercial court decided, Wednesday April 24, to place the French glassmaker Duralex in receivership, with an observation period of six months, Agence France learned. Press (AFP), at the court.
During a hearing that lasted just over an hour, the court appointed two legal representatives, and adjourned the case until June 5. “The court hopes to find a buyer” for the French company in difficulty, a magistrate explained to the press after the hearing.
Duralex had suffered the full brunt of the surge in gas prices following Russia’s invasion of Ukraine in February 2022, and had been temporarily saved by a state loan of 15 million euros, which had made it possible to reopen its glass furnace and restart its production, after five months of closure.
However, during the 2023 financial year, “new difficulties emerged”, attributable to inflation, a “strongly declining” consumer environment and “exacerbated competition”, the company specifies, adding that, “ despite operational efforts and continued investments, losses could not be stemmed.”