Placed in compulsory liquidation by the Niort commercial court on December 17, 2024, the Provost Frères establishments in Sauzé-Vaussais and their subsidiary Scierie de l'Atlantique based in La Rochelle were taken over, the same day, as part of a plan to sell their business of industrial sawmilling, drying and sawing of French hardwoods and exotic woods.
The commercial court approved the offer from the company Delta Alternative Management, through its Phoenix turnaround fund, for the benefit of the new company New SDA Provost, which was renamed Greenwood Atlantic. Good news for the 71 employees (34 in Sauzé-Vaussais and 37 in La Rochelle) who have all been taken over.
“We preserve jobs and know-how”
“We are maintaining the activity of both sites under the Greenwood Atlantic brand”specifies Stéphane Baudin, manager and company administrator at Delta Alternative Management, who heads the new structure. “With their specificities: the purchase of wood and processing in Sauzé-Vaussais and the manufacturing of Atlanwood glued laminated squares in La Rochelle. »
The manager expresses his confidence in the development of the activity: “We are preserving jobs and all know-how. We have confidence in the quality of the products. There was a liquidity problem and a need for working capital to finance purchases. We provide this liquidity. The objective now is to re-deliver to existing customers the services they had before the procedure. »
“A great operation”
Last August, our colleagues from South West revealed that the Scierie de l'Atlantique was in difficulty despite record turnover, targeted by an investigation by the judicial police.
Tuesday, December 24, 2024, Stéphane Baudin was preparing to write to all the customers and suppliers of Provost Frères and Scierie de l'Atlantique to reassure them. He has already visited both sites and was able to meet the employees. The immediate urgency is to pay salaries at the end of the month. “This recovery is important for the entire timber industry in the regionhe said. We are happy to be able to carry out this wonderful operation. »
