The essentials
Court rejects Pigasse takeover bid and orders Fibre Excellence mill liquidation.
The Toulouse commercial court has ordered the liquidation of Fibre Excellence' Tarascon pulp mill, rejecting a takeover bid by investor Matthieu Pigasse. The decision marks the end of restructuring efforts following the company's placement in judicial receivership in April 2026.
The court's rejection of the takeover proposal eliminates what had been presented as a potential path forward for the struggling facility. With liquidation now proceeding, the mill's assets will be sold off and operations wound down through the formal bankruptcy process.
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Judicial liquidation proceeds after court dismisses restructuring plan
The court's rejection of the takeover bid triggers formal liquidation procedures for the Tarascon facility. Following the company's entry into judicial receivership in April 2026, this court order represents the legal conclusion of restructuring attempts, moving the bankruptcy toward asset disposition and creditor settlement.
Proposed rescue fails as court mandates asset liquidation instead
Matthieu Pigasse's takeover proposal, which could have preserved operations under new ownership, has been rejected by the Toulouse court. Instead of restructuring, the Fibre Excellence Tarascon mill now faces complete liquidation, eliminating continuity options that the receivership process had explored since April 2026.