Tropical woods: Rougier in safeguard procedure

The holding of the French tropical timber merchant, Rougier SA, was placed on Monday in safeguard procedure, while its Africa International branch, which employs in Africa most of the group's 3,000 employees, was placed in bankruptcy , in accordance with its requests.

The commercial court of Poitiers fixed on May 18 a hearing on the maintenance of a period of observation for Rougier Afrique International (RAI), in cessation of payment, on the basis of a report of the court administrators establishing whether the group has the financial capacity to continue its activity.

At the same hearing in May, the court will examine the fate of Rougier SA, in order to decide on the renewal of the observation period, the end of the plan, the pronouncement of the recovery or the liquidation, on the basis of of the list of creditors, debts, contracts collected by then by proxy and judicial administrator.

In the meantime, the leaders of Rougier SA must submit a draft plan 15 days before the hearing if there is a Serious possibility of being saved

The court first set out on March 12, 2019 the end of the observation period, for the safeguard proceedings, as for the judicial reorganization.

At the end On March 9, Francis Rougier, the director general of the group and grandson of the founder, was cautiously optimistic, saying that the group was going to "endure" but reduce "its scope". He had, in the commercial court, requested a procedure of safeguard for Rougier and a judicial recovery for RAI.

The Rougier group, after the bankruptcy of its branch Africa International early March, had explained "to face persistent difficulties in Cameroon ", evoking" chronic engorgement "of the port of Douala – because of its silting – which" deeply disrupted the activities of the Cameroonian, Congolese and Central African subsidiaries. "

" This situation has caused persistent cash-flow tensions, accentuated by the delay in repayments of VAT credits from African operating subsidiaries. "

The trader employs 3,000 people worldwide, including 2,900 in Africa and controls seven factories on the continent: three sawmills in Gabon (Mevang, Ivindo, and Mbouma), two in Cameroon, (in Djoum and Mbang) and one in the Central African Republic (in Moualé), as well as one e plywood peeling in Gabon. It exploits a total of 2.3 million hectares of forest.

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