The examination of the takeover offers of the famous company Duralex, in receivership since September 2020, began Friday at the Commercial Court of Orleans with the announcement on the sidelines of the hearing of the withdrawal of one of the three offers, that of current shareholders.
André Ioannidès, brother of the current leader Antoine Ioannidès, threw in the towel, paving the way for International Cookware Holding, the parent company of Pyrex.
Read also: The Duralex brand, known for its canteen glasses, will it disappear?
"
We withdrew our offer late last night, because we had too little time to collect the funds,
" explained Antoine Poulain, lawyer for Duralex and the Ioannidès family.
“
The important thing is the sustainability of the company and Pyrex has all the capabilities to restart the activity and safeguard jobs,
” commented Antoine Ioannidès.
Three candidates had initially submitted bids for the takeover of the glassworks, located in La Chapelle-Saint-Mesmin (Loiret) and famous throughout the world for its tempered glass tableware.
The only “
credible
” offer, according to sources familiar with the matter, International Cookware Holding, controlled by the European investment fund Kartesia, plans to take over all of the 248 employees (minus two senior executives).
The Châteauroux-based company promises to invest 21 million euros over four years, said CEO José Luis Llacuna on the sidelines of the hearing.
The last offer, not very detailed and presented by an "
independent commercial agent
", Pierre-Olivier Baron, seems "
fragile
" and "
incomplete
", according to a source familiar with the matter.
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In addition, the consular court must hear another group of investors: the French Glass Company claims to have signed an agreement for the purchase of Duralex before filing for bankruptcy and intends to present a continuation plan.
The glassworks, in difficulty following an incident during the replacement of its furnace in 2017, saw its situation deteriorate with the health crisis.
The latter led to a drop in exports and a decline in sales in the hotel and restaurant sector.
