FlevoTrade gets time to get its affairs in order

A bankruptcy of FlevoTrade Onions BV has been averted. The preliminary suspension of payment granted by the court on September 10 has been converted to a definitive suspension after the creditors' meeting on December 18. FlevoTrade has a year and a half to fulfill its obligations to the creditors.

FlevoTrade Onions ran into trouble when the company's customers (mainly from Africa) failed to make payments. "Among them was a major buyer who in the past accounted for millions in turnover at FlevoTrade Onions," explains Jan Davids, administrator of FlevoTrade, over the phone. "We have the commitment that a debtor will resume payment to FlevoTrade by the end of February/March 2025." Once that money is received, FlevoTrade can settle debts with suppliers and others. "Another possibility is to find a new financier for FlevoTrade," Davids continues.

The sorting company, a sister company of FlevoTrade Onions, is still operational. However, they are not sorting onions for FlevoTrade Onions. The company has contracts as a contract sorter for fellow sorting companies and exporters. The company's vehicles also transport onions for third parties.

Jurphaas Lugtenburg

Jurphaas Lugtenburg is a market specialist in onions, carrots, and commodities such as wheat, corn, and soybeans at DCA Market Intelligence. He combines his degree in business administration with a passion for farming.

j.lugtenburg@farmerbusiness.com