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Gaudet's pastries are interesting

Gaudet’s pastries are interesting

Gaudet’s confectionery store, which was closed for a month after its bankruptcy, is attracting investor interest.

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At least ten groups will participate in the race for the Jude Confectionery Factory and Equipment. Among them, some want to liquidate the assets of the pie maker, while others want to revive the business that has been in existence since 1952.

This is the case of the previous owner, Lyne Lamothe, who intends to make an offer with a group of investors to the trustee in order to buy and re-launch the activities of the pie manufacturer.

Ms. Lamott wishes to avoid the disintegration of this leading Quebec company.

It was the majority shareholder until 2017, but decided to sell its shares five years ago to the current owners, due to a business dispute.

Ms. Lamott finds it difficult to explain how this leading Canadian food company can now be saddled with more than $23 million in debt, which is equivalent to the company’s turnover at the time of her departure.

Among the hundreds of workers who found themselves out of work a month ago, many are delighted with the interest shown by their former leader.

Lynn Lamott says she has the support of strong financial partners in the food sector. It claims to have contacted many previous clients and believes that with proper management it will be possible to get the business back on track.

Other investors, such as Quebec’s Martin Dessert and even Metro, have expressed interest.

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On September 22, the guild will choose from among all offers received and will not necessarily be kept.

Investissement Québec could have a say, with Crown having the largest claim at $7.5 million.