The financial problems at onion company FlevoTrade Onions persist. The court has extended the suspension of payments by one and a half years, while work is being done on an arrangement with creditors. Read more about the suspension of payments at FlevoTrade Onions.
On March 10, during the creditors' meeting, the request to extend the suspension of payments up to and including September 10, 2027, was considered. The court agreed to this.
This gives administrator Jan Davids extra time to raise funds to buy out the company's debts.
Onion company FlevoTrade Onions in Dronten has been experiencing financial difficulties since 2024. On September 11, 2024, the District Court of Central Netherlands granted the company a provisional suspension of payments.
In December of that year, a definitive suspension of payments followed for a period of one and a half years. Now that period is being extended by another one and a half years.
Normally, a period of one and a half years applies as the maximum term during which a judge can grant a suspension of payments. During that period, the company must attempt to repay debts to creditors.
The purpose of this protection scheme is to give a company the opportunity to prevent bankruptcy.