Holder Group, the family-owned French company best known for its Paul bakery chain, has asked a commercial court to place its industrial subsidiary Château Blanc into judicial reorganization—a French court-supervised process similar to bankruptcy protection.
The move puts roughly 220 jobs at risk at Château Blanc’s large plant in Marcq-en-Baroeul, near Lille in northern France, which is now being put up for sale, according to the article. Château Blanc operates three production sites in the Hauts-de-France region.
The Lille Métropole commercial court was asked to open the proceeding at the group’s request, as Holder struggles to turn around its industrial arm.
A flagship plant running at just 37% capacity
The biggest threat centers on the Marcq-en-Baroeul facility, where Château Blanc makes viennoiseries (French-style pastries), macarons and frozen bread across about 16,000 square meters—roughly 172,000 square feet—using eight production lines.
The plant also serves as the group’s headquarters. Holder reported overall revenue of €997 million (about $1.08 billion), with 60% generated internationally through 870 stores.
But the Marcq-en-Baroeul site has been badly underused. Last year, the factory operated at just 37% of capacity, a level described in the article as disastrous for a facility of its size that supplies big-box retail and fast-food customers.
Château Blanc posted revenue of €89.7 million (about $97 million) and employs 400 people. About 220 of those workers are based at the Marcq-en-Baroeul site and are the most directly exposed to a potential shutdown, the article said.
Other sites are healthier as Holder seeks a buyer for Marcq-en-Baroeul
The two other entities in the Château Blanc industrial unit—located in La Madeleine (Nord) and Tilloy-lès-Mofflaines (Pas-de-Calais, near Arras)—are in better shape, according to the article.
Those sites work almost exclusively for Holder itself. The group is hoping for a continuation plan for them while it looks for a buyer to take over the Marcq-en-Baroeul plant.
Paul stores are not part of the court process
The court filing does not affect the Paul retail network, the article said. Instead, the trouble is concentrated in large-scale industrial production, which is more exposed to swings in volume in the broader industrial market.
For several years, the Marcq-en-Baroeul plant has piled up difficulties without returning to a sustainable utilization rate.
Holder has not provided details on takeover prospects or a timeline. The judicial process now underway will set the terms for any potential sale and determine what happens to the affected employees.
