Blog: Belvédère in the red
Olly Wehring | 11 August 2009
Did you think your company was having a rough time in the economic downturn? Well, take a look at France's Belvédère.
Belvédère has reported a drop in 2009 half-year sales, an increase in net debt for 2008 and net losses, not to mention against a backdrop of a bankruptcy protection order.
As French business newspaper La Tribune put it, "the sky is falling in" on Belvédère - or at least, it is threatening to.
The next few months will be crucial for the group as it attempts reach agreement with major creditors over debt repayments. A court hearing is set for September.
On the face of it, sales have been relatively mixed in the first six months of 2009. Around half of the decline was due to an unfavourable euro exchange rate with the Polish zloty, said the firm.
Demand for flagship vodka Sobieski rose strongly in the US during the period.
All is not lost, then, but the road to recovery is littered with pitfalls.
For those people looking to the Red Planet as shining utopia away from all things earth, look away now....
Bacardi's 42 Below vodka brand has found a novel way to use the lemons left over from cocktail-making: Turn them into liquid soap....
Philadelphia’s soda tax came into force on Sunday, and is reportedly causing a stir in the city's check-out aisles....
Earlier this month, I was most-kindly invited by Accolade Wines to visit the Royal Albert Hall in London. The reason? They wanted to see a tennis great in action, and then give them a guided tour thro...
- Drinks industry's gender failure - Consumer Trends
- Has the politics of M&A changed? - Analysis
- Fruit-flavoured beer? Think of the kids - Comment
- Most Valuable Spirits Brands in 2017 - The facts
- Gallo's vineyard footprint in California - The map
- Anheuser-Busch readies US executive switches
- Brexit paperwork offers alcohol smuggling opp's
- Asahi’s Peroni Ambra - NPD
- Irish whiskey hails bid to relax distillery sales
- Heineken snaps up Stellenbrau craft brewery
- 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
- The Next Seven Big Beverage Markets
- Global RTD insights - market forecasts, product innovation and consumer trends