FRANCE: Belvédère falls into administration - reports
Belvédère has been placed in administration by a French court, according to local reports.
The Sobieski vodka maker, in which Hollywood actor Bruce Willis owns shares, has been placed in administration by a commercial court in the French city of Nimes. Its sister group, winemaker Moncigal, is also in administration, according to reports.
If confirmed, the ruling marks a severe turn for Belvédère, which had hoped to renegotiate a bankruptcy protection deal with the court in order to buy time to agree a debt repayment plan with its creditors.
No one at Belvédère was immediately available for comment when contacted by just-drinks today (20 September). The group's website was also down.
Belvedere has declined to say whether its Sobieski vodka is among its brands up for sale, following a report that the group has received interest in its star product....
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