FRANCE: Burgundy trader in administration
Small Burgundy trader, Chartron et Trebuchet, has been placed in administration for a period of six months, French newspaper Les Echos reports.
The company has estimated losses of €1m from an annual turnover of €4.6m.
Specialised in high-quality wines, particularly whites, the company's financial difficulties stem from the slump in French wine exports, especially to the US, which represents around 25% of its business.
Discussions are under way to open Chartron et Trebuchet's capital to outside investors. The 13- hectare wine-growing estate owned by the Chartron family is not affected by the bankruptcy filing.
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