Fibre Excellence, which operates two pulp mills in the south of France, reported a liquidity shortfall estimated at several tens of millions of euros.
April 23, 2026 - After months of searching for a long-term financial solution to avoid bankruptcy, Fibre Excellence filed for insolvency with the commercial court of Toulouse on April 13 and has now entered receivership proceedings.
The company reported a liquidity shortfall estimated at several tens of millions of euros.
Fibre Excellence operates two pulp mills in the south of France — one in Tarascon (Bouches-du-Rhône) and the other in Saint-Gaudens (Occitanie). The mills have a combined production capacity of 550,000 tons per year of unbleached or bleached pulp.
In a statement on April 13, Fiber Excellence said, "The potential opening of receivership proceedings will then depend on the judge's decision, expected at the end of April. This will depend on the final discussions with the government regarding the economic viability of our operations. Fibre Excellence remains convinced that a solution is still possible to maintain and develop a combined pulp and paper/renewable electricity industry in France."
On April 17, Fibre Excellence stated, "Following the latest discussions between the shareholder and the State, no solution has been found to prevent the group from being placed under the protection of the Commercial Court. Following the filing of the declaration of cessation of payments on April 15, the court will hear from management and employee representatives on April 21, before issuing its ruling on April 27 regarding the continuation of operations.
"To date, industrial activity continues. Management thanks the Occitanie and Sud Regions, as well as the State, for their sustained involvement in the effort to avoid insolvency proceedings."
SOURCE: Industry News Reports