FRANCE: Bricout et Delbeck showdown resolved
French workers who threatened to destroy 7m bottles of Champagne have stepped down, it was reported yesterday. The workers at the insolvent Champagne maker Bricout et Delbeck in the northern town of Reims removed their barricades after an appeals court approved a plan to save most of the company's jobs.
The workers at Bricout et Delbeck's Champagne cellars lifted the threat after a court approved the transfer of the company's assets to other French Champagne houses Moet et Chandon and Vranken-Pommery. The move will save around 90 of the 130 jobs which had been under threat.
The appeals court rejected a challenge to the plan issued by Bricout's former chief executive Pierre Martin. Had the court not rejected the challenge, the workers had threatened to destroy 6m bottles of Champagne and another 800,000 bottles of the unfinished product, worth around €50m (US$58m).
Martin is under formal investigation for fraud and abuse of trust following the discovery of a black hole in the company's accounts.
- Most Valuable Spirits Brands in 2017 - The facts
- Diageo Africa president O'Keeffe on beer & spirits
- Travel Retail needs a disruptor - Comment
- Most Valuable Beer Brands in 2017 - The facts
- Is sustainability now as important as financials?
- Diageo ready to lock horns with AB InBev in Africa
- Fever-Tree eyes bumper NPD, pack formats for 2017
- Diageo unveils Blender's Batch in the US
- Heineken mulls M&A with $1.75bn notes issue
- Heineken sees Tesco pull SKUs in UK
- Central and East Europe Report Package
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Global vodka insights - market forecasts, product innovation and consumer trends
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Spirit Market in the Top 5 European Countries to 2021 - Market Size, Development, and Forecasts