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Madrange owner no longer has to worry about a default

2021-02-09T16:40:48.592Z


INFO LE FIGARO. - The Breton cooperative Cooperl has reached an agreement with Bercy on the payment of the fine of 35.5 million euros linked to the ham cartel.


The Breton cooperative Cooperl (Brocéliande, Madrange, Paul Prédault) sees the horizon brightening, after having been financially destabilized by the threat of a fine of 35.5 million euros linked to an agreement on the prices of ham.

According to our information, the group has reached an agreement under the aegis of Bercy and with its banks to rule out the risk of default linked to the payment of this sanction.

The group has challenged this fine in court, but the appeal is not suspensive.

In October, less than two months before the deadline for the payment of the sanction for these facts dating from the beginning of 2010, the group had sounded the alarm bells.

Cooperl insisted on the risk this posed to his survival.

In particular that of the defection of its bankers and the deterioration of its credit rating.

What lead him straight to the default of payment, explained at the time its general manager Emmanuel Commault.

Through this “

confidential”

agreement

, confirmed by Bercy, the cooperative of 2,700 breeders and 700 employees ensures that the pressure linked to this sword of Damocles is reduced.

And this in particular via payment facilities and spreads.

"

All without evading a sanction that does not have to be called into question",

specifies a source close to the file.

Contestation on the merits

This financial impasse removed, the group's battle is not over, however.

The cooperative disputes the facts of a price agreement with 12 players (including Intermarché, Fleury Michon, Herta ...), which it is accused of.

Believing to have been pinned on the basis of falsified evidence produced by a competing group, Cooperl appealed in the fall of the decision of the Elders of Competition.

He is also waiting by March for a decision on the suspension of execution of his sentence, the time of the result of his appeal proceedings.

Source: lefigaro

All business articles on 2021-02-09

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