Reuters: Bankruptcy News: French poultry group Doux seeks buyers

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French poultry group Doux seeks buyers Jun 22nd 2012, 17:40 PARIS, June 22 | Fri Jun 22, 2012 1:40pm EDT PARIS, June 22 (Reuters) - Debt-burdened French poultry group Doux, which collapsed into administration earlier this month, is seeking a buyer to take over the entire business and ensure its survival, one of its administrators said on Friday. Regis Vaillot said in a statement that the administrators wanted to avoid a breakup of the company and would also remain open to a possible refinancing of the group, which is 80 percent owned by its founder, Charles Doux. The company, one of the world's largest poultry exporters, was placed in administration on June 1 after saying that it had suspended payments to creditors. It said previously its debt of 340 million euros ($426.21 million) included 200 million euros in Brazil, where it bought subsidiary Frangosul in 1998, and 140 million euros owed to the bank Barclays. Doux on Friday dismissed a report in French daily Le Monde that it planned to break itself up. In addition to employing 3,400 staff in France, Doux also has supply contracts with some 800 poultry breeders. Link this Share this Digg this Email Reprints

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