French agricultural group Agralys has confirmed it has taken control of pre-packed vegetable and potato specialist Terr'Loire, which went into administration earlier this year.
Terr'Loire will now operate as a branch of Agralys under the name SAS Société Nouvelle Terr'loire, and is to be headed up by former Terr'Loire director Jean-Michel Favretto.
The company was placed into receivership at the beginning of April this year following financial difficulties.
At the time, the bankruptcy court of Orléans gave the company a period of six months to address the situation and named an administrator.
Terr’loire’s financial problems were exacerbated in May 2008 when the company was forced to destroy a significant proportion of its plants following the discovery of a bacterial infestation, contributing to an overall annual loss of some €2.9m.
