Rescue Plan for GAD16 October 2013
FRANCE - The Commercial Court in Rennes has approved a rescue plan for the troubled pig group GAD.
GAD went into receivership on 27 February, despite state intervention last year.
It was found that it was not possible to find a collective solution with other industry players that would have prevented the closure of the GAD sites and layoffs of workers, because of the overcapacity in the hog slaughtering industry.
The government has now said that it is a priority to find jobs for the workers that have been laid off.
The government has said it will step in to help those out of work and has put forward a scheme that will virtually maintain the net pay former employees of GAD for 12 months and give them access to training.
The State has already secured a commitment for vocational training for GA employees in order to find them new jobs.
The government said it was also essential to help build up the business and help turn things around at GAD in a bid to boost the economic outlook in the North Finistère region.
Outside North Finistère , the State and the Region of Brittany has launched a regional food and farm plan to enable the sector to bounce back and identify new development areas.
TheMeatSite News Desk