The Commercial Court of Grenoble orders liquidation of the French recycled pulp manufacturer Vertaris.
French recycled pulp manufacturer Vertaris has been placed into liquidation last week. The decision to liquidate Vertaris was pronounced by the Commercial Court of Grenoble on 24 July, the insolvency administrator reported. Roughly 20 employees are to be dismissed as a result. Although unlikely, a takeover by an investor is still possible in theory.
Vertaris had been in the observation phase of the judicial rescue proceedings since October 2011. This phase had been extended several times.
The possibility of resuming production of deinked pulp with a capacity of 140,000 tpy with new investors had been under discussion since December last year. At that time, 98 jobs had already been cut as part of restructuring measures.
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