It is all hands on deck at the Belgian company, Greenyard. This fruit and vegetable concern is again selling off parts of the business. They are also preparing a major capital increase.
It seems owner and CEO, Hein Deprez, might lose control of the company. Greenyard, therefore, has to intervene again. "New disinvestments are an option", Hein Deprez told Belgian newspaper, De Tijd.
The company has to lower its prices, which is difficult. "The pressure from supermarkets in Belgium and Germany is growing. The solution is to save costs, but there also needs to be better cooperation with the supermarkets", he says.
"There are still ways to bring in money. However, there is a possibility that shareholders might not receive their dividends this year. A capital increase is also an option to help Greenyard out of trouble. We are doing everything in the company's interest", concludes Hein.
It is not clear how much money Greenyard needs. Observers, however, reckon it is at least about EUR100 million.
Source: De Tijd