Doux Family Fights to Save the Company25 June 2012
FRANCE - The head of the beleaguered French poultry processing company Doux, Charles Doux, has said he is ready to be open about the finances of the company that has been put up for sale by the administrators
According to a report in Le Parisien, the administrators put the company up for sale on Friday after other rescue options had failed.
Mr Doux said that he and his son have a 35 per cent share in the company and with other family members they own 80 per cent of Doux.
The administrator said that there would have to be conditions if Mr Doux wanted to put together his own rescue package.
In an interview with Le Parisien, Mr Doux said part of the trouble had been caused by funds being blocked by the banks.
He had refused to hand over the keys to Barclays bank during the official negotiations led by Arnaud Montebourg, earlier this month because they had no business plan and no guarantee of employment for the employees.
He also called on the bank Natixis to release €10 million and he claimed the company was able to finance itself while a rescue plan was put together if funds were released.
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