The Gaudet patisserie arouses interest

Closed for a month after going bankrupt, the Gaudet pastry shop is attracting interest from investors.

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At least ten groups would be in the running to acquire the Gaudet pastry factory and equipment. Among them, some want to liquidate the assets of the pie maker, while others revive the business that has existed since 1952.

This is the case of the former owner, Lyne Lamothe, who intends to submit a proposal with a group of investors to the trustee in order to buy and relaunch the activities of the pie manufacturer.

Ms. Lamothe wishes to avoid the dismantling of this company, a Quebec flagship.

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

Ms. Lamothe finds it hard to explain how this Canadian food flagship can now be overwhelmed by debts of more than $23 million, the equivalent of the company’s turnover at the time of her departure.

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

Lyne Lamothe says she has the support of strong financial partners in the food sector. She claims to have contacted several former clients and believes that with sound management, it would be possible to get the business back on track.

Other investors, such as the Quebec company Martin Dessert and even Metro, have shown interest.

It is on September 22 that the syndic will choose among all the proposals received and it is not the highest that will necessarily be retained.

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

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