In the Netherlands, the District Court of Amsterdam has granted J.M. Levarht & Zonen B.V. (Levarht) a moratorium on payments. M.R. van Zanten of CMS Derks Star Busmann has been appointed as administrator. He will help determine if this fruit and vegetable wholesale business can continue. In the meantime, Levarht's activities will be continued as much as possible.
The court has announced a cooling-off period during which suppliers cannot exercise any rights. The administrator must first get an idea of the company's size and the rights various creditors have to it.
In a statement, a stricken Frank Levarht says that last year, due to implementing a new automation system, the company could not see its financial results for several months. "We then made a loss for the first time in years; only it went very wrong right away."
Levarht was founded in 1933. The company carried a wide range of products and had melon, bell pepper, and avocado farms. For the Dutch supply, the company worked with grower cooperative Oxin Growers.