Greenyard will have to make crucial decisions over the coming years. However, during the presentation of the annual figures (which were not positive) there was no mention of the capital increase and the planned restructuring.
On Tuesday the fruit and vegetable corner admitted to a larger than expected mountain of debt. According to Hein Deprez 2018 was the most challenging year in the history of Greenyard. Yet there isn't a light at the end of the tunnel just yet. The company's current situation does not allow for any setbacks and there are still no concrete decisions.
Mountain of debt
There are three causes for the mountain of debt of 456.3 million Euro: Greenyard had to lower their prices, the failed harvest due to the dry summer and the Listeria problem in Hungary.
The company will carry through a restructuring that will lose 422 jobs. Greenyard also wants to sell the conserve department. This sale is meant to bring up 100 million Euro.