FRANCE: Mitsiu goes into administration
Bordeaux-based wine bottling, packaging and logistics group Mitsiu has been placed under administration by a commercial court and given several months to come up with plans to continue as a going concern.
Mitsiu's president/CEO and owner, Jean-Luc Darfeuille, said today (8 June) that the group's problems stem from the tax debts incurred as a result of the liquidation, earlier this year, of subsidiary company the Société d'Embouteillage du Dehez (SED), which had been the biggest independent wine bottling company in Bordeaux.
Darfeuille, who claims the Inland Revenue has refused to allow a phased repayment of the debts, is now looking for investors ready to buy into Mitsiu's capital.
Meanwhile, Mitsiu's creditors, who are thought to number close to 200, have been invited to present their claims to the administrator over the next two months.
Made up of four separate companies - Mitsiu Les Chais, Mitsiu Logistique Lormont, Mitsiu Conditionnement and Mitsiu Logistique - the group has an annual turnover of EUR15m (US$20m) and employs 170 staff. Its customers are largely wine estates and traders.
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