Francois Fondeville into receivership, could be acquired by major player – report (translated)
15 OCT 2018
French family-owned construction group Francois Fondeville has been put into receivership by the commercial court of Montpellier on 9 October, French daily Les Echos reported. The report cited a source as saying that the court could consider a sale of the business, which owes a debt of more than EUR 20m, to one of the major players of the sector; the only deal that could ensure the survival of the company, the source added.
The report cited a spokesperson for Francois Fondeville as saying that it remains independent and that the company should be “viable” in 2019 thanks to restructuring changes. The spokesperson added that the rumours about the business were made by competitors with “malicious intent”.
Francois Fondeville was founded in 1910 and is run by the Fondeville family. It generates annual revenues of EUR 150m.