Holder Group, the family-owned French company best known for its Paul bakery chain, has asked a commercial court to place its industrial subsidiary Château Blanc into judicial reorganization—a French court-supervised process similar to bankruptcy protection.
The move puts roughly 220 jobs at risk at Château Blanc’s large plant in Marcq-en-Baroeul, near Lille in northern France, which is now being put up for sale, according to the article. Château Blanc operates three production sites in the Hauts-de-France region.
The Lille Métropole commercial court was asked to open the proceeding at the group’s request, as Holder struggles to turn around its industrial arm.