French tropical wood specialist Rougier has gained court permission for restructuring measures after filing for insolvency protection. The group filed for court protection this month after suffering persistent difficulties in Cameroon, where a chronic backlog at the port of Douala has caused significant operational disruption for subsidiaries in Cameroon, Congo and the Central African Republic. The situation has led to persistent cash flow pressures, exacerbated by the delays with VAT credit reimbursements for the operational African subsidiaries. Its application for protection was ...
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