Troubled French glass manufacturer Duralex has requested a judicial recovery procedure with local authorities in order to find a buyer.
In a message to staff on Tuesday it said it was requesting the opening of a judicial recovery procedure” with the local commercial court in Orleans to find a buyer for its parent company New Duralex International (NDI).
It said the objective is to seek a buyer for NDI, aiming to find the best solution for the company which employs 230 people in its glassworks in Chapelle-Saint-Mesmin, in Loiret, France.
“Management had no other choice but to make this decision in order to preserve the interests of the company,” said NDI.
The glass facility blamed increased energy prices for a five and a half month closure between November 2022 and April 2023. It resumed production on Monday April 17, 2023 after a €15 million state loan.
It said: “During the 2023 financial year, new difficulties emerged, attributable to inflation, a sharply declining consumer environment and heightened competition.
"Duralex's commercial performance was severely impacted.
“Despite operational efforts and continued investments, the losses could not be stemmed and the horizon of returning to a more favourable situation was clouded."
Duralex is an iconic brand in France rooted in daily lives and present as a childhood memory from school canteens, cafes and household tables.
