It’s the downfall. French jam maker Lucien Georgelin was placed in receivership on Thursday by the Agen commercial court, we learned from a judicial source. The two companies in the group, the confectionery Lucien Georgelin and Lucien Georgelin cereals, will be under the observation of two judicial administrators from Toulouse for six months, masters Patard and Caviglioli.
350 employees employed by the company
According to the local press, the Lucien Georgelin group had been suffering from financial difficulties for several months, caught between the lack of cash and debts. On Tuesday, the company, the second national producer of jams according to the specialized press, declared itself insolvent.
According to The Dispatch from the MidILucien Georgelin, still at the head of the group at 76, is looking for four million euros to relaunch his company based in Virazeil (Lot-et-Garonne) and which employs around 350 people.
In 2022, the group’s turnover reached 73.3 million euros according to the company.