While waiting for bankruptcy proceedings, France Tanneries shut down

While waiting for bankruptcy proceedings, France Tanneries shut down

They have shut down. Most likely, they are going to face a winding-up. In fact, the crisis that has been affecting France Tanneries has progressed very rapidly. As reported by ouest-france.fr, the tannery submitted their file before the Commercial Court of Paris, which is going to rule over the business, on June 3rd. The matter, of course, sounds reasonably worrisome and serious to the municipality of Châteauneuf-sur-Sarthe, situated in the Maine-et-Loire department of Western France. On the one hand, 35 employees might lose their job. On the other hand, they are concerned about the prospective closedown of the company, which has inherited the history of a few businesses, founded in the nineteenth century, and belongs to “the industrial heritage of the local area”.

France Tanneries

French press media have summarized two possible scenarios about the tannery. In the best case, they are going to be into receivership. Yet, as we formerly said, another option could be winding-up. The company, which specializes in the manufacturing of hides for high-end leather goods, has been taking on the current corporate set-up since 2016. For the records, the business turns out to be a merger, controlled by a new representative shareholder, of Tanneries Dupire and Tanneries Sueur, founded in 1863 and 1873 respectively. That is why local administration councils are concerned now: they hope they will not lose such heritage.

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