Coprosain in judicial reorganization - Companies

Coprosain in judicial reorganization – Companies

For several years now, Coprosain, the Athoise cooperative which has been marketing healthy and local products for 35 years mainly from the agricultural businesses of its members, has been struggling with the profitability of its economic model.

The Coprosain model is more topical than ever with the advent of locavorism, organic products and short circuits, but which today competes with more recent brands with more modern stores. After an increase in turnover to more than 10 million euros in 2020, Coprosain experienced a soft spot in 2021 with a significant drop in revenue from its stores which was only partially offset by the increase in its activities. B to Bor the supply of products to brands like eFarmz or La Ruche qui dit oui.

Request accepted

In June, a new board of directors was installed to straighten out the cooperative, give it a future and relaunch it. In the fall, under the advice of Sogepa, a crisis manager, Jean-Paul Chantry, arrived. This new impetus resulted last week in the filing of a request for judicial reorganization proceedings by amicable agreement. The idea is therefore to perpetuate the activities of the cooperative by reaching an agreement with at least two of the creditors. The request being accepted, Coprosain has a respite of six months to relaunch.

Modernize tools

Since the beginning of January, Coprosain has only had three points of sale (Ath, Braine-l’Alleud and Tournai). Mons has been permanently closed due, among other things, to a lease problem. It is not impossible that a new store in Mons will reopen in the near future. The cooperative keeps its two market trucks present in Brussels (Jette, Flagey, Woluwe-St-Lambert, etc.), in Walloon Brabant (Ottignies, Waterloo, etc.) and in Hainaut (Tournai, Enghien, etc.) . If the quality of the products has never been in question, this PRJ is not really a surprise. It must be admitted that points of sale are not always well organized or in tune with modern needs.

“It is certain that we must renovate our stores, confides Jean-Paul Chantry. But also modernize and invest in our processing workshop to improve productivity and the product offer. But everything in its time. first to solve the structural and accounting problems, convince our creditors, some of whom are members of the board of directors, and start again on a sound basis. The extraordinary general meeting voted unanimously except for one abstention the continuity of the company at the at the end of December. We must ensure this sustainability and come out of the PRJ with our heads held high. The concept of marketing healthy and local products remains more relevant than ever.”

The Coprosain model is more topical than ever with the advent of locavorism, organic products and short circuits, but which today competes with more recent brands with more modern stores. After an increase in turnover to more than 10 million euros in 2020, Coprosain experienced a soft spot in 2021 with a significant drop in revenue from its stores which was only partially offset by the increase in its activities. B to B, i.e. the supply of products to brands like eFarmz or La Ruche qui dit oui. Request accepted In June, a new board of directors was installed to straighten out the cooperative, give it a future and relaunch it. In the fall, under the advice of Sogepa, a crisis manager, Jean-Paul Chantry, arrived. This new impetus resulted last week in the filing of a request for judicial reorganization proceedings by amicable agreement. The idea is therefore to perpetuate the activities of the cooperative by reaching an agreement with at least two of the creditors. The request being accepted, Coprosain has a respite of six months to relaunch. Modernizing the tools Since the beginning of January, Coprosain has only three points of sale (Ath, Braine-l’Alleud and Tournai). Mons has been permanently closed due, among other things, to a lease problem. It is not impossible that a new store in Mons will reopen in the near future. The cooperative keeps its two market trucks present in Brussels (Jette, Flagey, Woluwe-St-Lambert, etc.), in Walloon Brabant (Ottignies, Waterloo, etc.) and in Hainaut (Tournai, Enghien, etc.) . If the quality of the products has never been in question, this PRJ is not really a surprise. It must be admitted that the points of sale are not always well organized or in phase with modern needs. “It is certain that we must renovate our stores, confides Jean-Paul Chantry. But also modernize and invest in our transformation to improve productivity and the product offer. But everything in its time. We must first resolve the structural and accounting problems, convince our creditors, some of whom are members of the board of directors, and start afresh on a sound basis. The Extraordinary General Meeting voted unanimously with one abstention the continuity of the company at the end of December. We must ensure this sustainability and come out of the PRJ with our heads held high. The concept of marketing healthy and local products remains more relevant than ever.”

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