French glassmaker Duralex, in difficulty since the energy crisis of 2022, “has requested the opening of a judicial recovery procedure for its benefit with the Orléans commercial court,” as announced by the company New Duralex International (NDI), operator of the famous brand.
“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). “An administrator and a legal representative should be appointed by the court to assist the company during the observation period.”
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 EUR 15 million from the French government. This loan enabled Duralex 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 competition. Despite operational efforts and continued investments, the losses could not be stemmed.
According to NDI, the company was confronted with a decision from the Orléans administrative court concerning the rights to pollute of the former owner of Duralex, considering that it was owable to 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.
Pyrex, an entity separate from Duralex, which took over the company of the same name in January 2021, “is continuing its activities as usual.”
The Minister of Industry, Roland Lescure, who had come for the reopening of the ovens, said that the government would do everything possible to try to bring about recovery solutions. “We are counting on local stakeholders to mobilize alongside us in this research.”