Bernard Callebaut in receivership

Posted by Ian Chiclo in Off The Wire

Bernard Callebaut has just announced that the company is in receivership. In a press release issued this morning, the company states:

"Due to economic circumstances receivership was the only option available.  While this was certainly not an avenue Bernard chose, and through thorough consultation with advisors and extensive consideration of all other alternatives, the company was forced into this action."

and

“For 27 years we have lovingly devoted ourselves to offering Canadians with chocolate that they can proudly give to their families and friends, however as with many other businesses the downturn in the economy left us holding real estate purchased at a premium price, that is now valued at a very deflated price. This circumstance underpins our situation and is the impetus for this very difficult decision,” explains Bernard Callebaut.

Bernard Callebaut himself will hold a press conference today at 4pm.



more in News     |     posted Aug 3rd, 2010 at 12:46pm     


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