Economy. Duralex requests “the opening of a legal recovery procedure”

The glass company New Duralex International (NDI), operator of the Duralex consumer glassware brand, “has requested the opening of a judicial recovery procedure for its benefit with the Orléans commercial court,” Duralex announced on Tuesday. .

230 people in the historic factory

“The objective is to look for a buyer for NDI, thus aiming to find the best solution for the company” which employs 230 people in its historic factory in Chapelle-Saint-Mesmin (Loiret), indicates the press release according to which “a administrator and a legal representative should be appointed by the court to assist the company during the observation period which should open.

Duralex had suffered the full brunt of the surge in gas prices following Russia’s invasion of Ukraine at the start of 2022, and had been temporarily saved by a loan of 15 million euros from the State, which had enabled it to to reopen its glass furnace and relaunch its production after five months of closure.

However, during the 2023 financial year, “new difficulties emerged”, attributable to inflation, a “strongly declining” consumer environment and “exacerbated competition”, indicates the company: “Despite the efforts operational and continued investments, the losses could not be stemmed.”

Compromised financial health

At the same time, NDI says it “was confronted with a decision from the administrative court of Orléans concerning the rights to pollute of the former owner of Duralex”, considering that it was “debtful for the quotas owed by the former operator”.

This judgment “rendered in mid-March”, against which the company announced its intention to appeal, “seriously compromises the financial health of NDI and its ability to maintain its activities in a sustainable manner”, states the press release.

Pyrex, an entity distinct from Duralex operated jointly within the French Glass House, “continues its activities as usual”, it is specified in the press release.

Duralex, founded in 1945, invented tempered glass and the famous glasses used both in school canteens and by trendy restaurants. The company achieved an annual turnover of 29.4 million euros in 2022.

In Bercy, the Minister of Industry Roland Lescurewho had come for the reopening of the ovens, indicated that the State would “do everything possible to try to bring about recovery solutions”.

“We are counting on local stakeholders to mobilize alongside us in this research,” he said in a brief press release.