A large French home appliance manufacturer has been placed into judicial liquidation, leading to the end of its brands Brandt, Vedette, Sauter, and De Dietrich, and the loss of 700 jobs, according to François Bonneau, president of the Centre-Val de Loire region.
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The final takeover proposal for the Brandt Group, submitted by the Revive group, was rejected. It had aimed to establish a cooperative to save around 300 positions, but the court determined that the required financing of €20–25 million could not be secured despite €5 million in state aid and regional support.
Brandt has been under foreign ownership since 2014, when it was acquired by Algerian group Cevital. The liquidation marks a definitive end to decades of French manufacturing under the Brandt name and its affiliated labels.
The court decision underscores the financial difficulties facing traditional appliance makers in a competitive European market.
Source: www.univers-habitat.eu
