Blog: Olly WehringBelvédère 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. 


Starbucks jumps on gin bandwagon

Starbucks has become the latest company to tap into the gin craze, with the launch of Starbucks Reserve Gin Barrel-Aged Cold Brew....


Feeling Blue on Monday? Help is at hand

It may not be scientific, but the third Monday in January has been coined 'Blue Monday' - the most depressing day of the year. Dreamed up in the UK by a psychologist commissioned by a holiday company ...


Bad day on the beer? This'll help

If you work for a brewer and are having a rough week, take a minute to regain some perspective with this, from the good people at US craft beer producer Sierra Nevada Brewing Co....


Brewers Association "bid" to buy Anheuser-Busch InBev strikes a chord

Is this a case of if you can't beat them, buy them?...

Forgot your password?