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Pâtisserie Gaudet has acquired more than $7.7 million in public funds

Pâtisserie Gaudet has acquired more than $7.7 million in public funds

Quebec could remain unhappy and lose $7.7 million in the bankruptcy of Pâtisserie Gaudet in Acton Vale, which already had Walmart as a customer when the company tasted success with its waffles and waffles.

“The balance owed by the company to the Government of Quebec and to Investissement Quebec is $7.7 million,” it was confirmed yesterday to register Dominique Baudault-Lapierre, spokesperson for Investissement Québec (IQ).

Pâtisserie Gaudet, which had just declared bankruptcy, had $23.8 million in debt, making Quebec a major creditor.

Among the 113 workers, birth control pills are difficult to swallow. Some are even afraid of never seeing the color of their paychecks from the past few weeks again, according to him the voice of the east.

However, a few years ago, the flagship Montérégie was blazing in its sails and was the third largest producer of waffles in the country.

More than nine million pies came out of their ovens each year in 2015.

Even US giant Walmart has started cramming its “Made in Quebec” products from MRC d’Acton.

Million dollar rain

Over the years, Pâtisserie Gaudet has been entitled to millions of dollars in financial support of all kinds to continue doing business.

In 2016, Quebec gave him a $700,000 loan for a new plant.

The following year, another $1 million loan was granted for a second production line at the same facility.

Two years later, another loan of $2.2 million was made to Pâtisserie Gaudet “in order to improve the company’s working capital,” IQ asserts.

Finally, last year, Investissement Québec provided two more loans totaling $4.3 million for the purchase of equipment, machinery and “working capital”.

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Yesterday, Pâtisserie Gaudet did not respond to interview requests from register.

With Martin Golicor