Quebec might remain unsatisfied and lose $7.7 million in the bankruptcy of Pâtisserie Gaudet in Acton Vale, which already had Walmart as a client when the company tasted success with its pies and tarts.
“The balance owed by the company to the Government of Quebec and to Investissement Quebec is $7.7 million”, confirmed yesterday to the Journal Dominik Boudreault Lapierre, spokesperson for Investissement Québec (IQ).
Pâtisserie Gaudet, which has just declared bankruptcy, had a debt of $23.8 million, which makes Quebec a major creditor.
Among the 113 workers, the pill is hard to swallow. Some even fear never to see the color of their paychecks from the past few weeks once more, according to The Voice of the East.
However, a few years ago, the flagship company of Montérégie had the wind in its sails and was the third largest producer of pies in the country.
More than nine million pies came out of its ovens each year in 2015.
Even the American giant Walmart had started to have an appetite for its “Made in Quebec” products from the MRC d’Acton.
Million dollar rain
Over the years, Pâtisserie Gaudet has been entitled to millions of dollars in financial support of all kinds to continue doing business.
In 2016, Quebec granted him a loan of $700,000 for a new factory.
The following year, another $1 million loan was granted for a second production line at the same facility.
Two years later, another loan of $2.2 million was offered to Pâtisserie Gaudet “in order to improve the company’s working capital”, underlines IQ.
Finally, last year, Investissement Québec made two other loans totaling $4.3 million for the purchase of equipment, machinery and for its “working capital”.
Yesterday, Pâtisserie Gaudet did not respond to interview requests from the Journal.
– With Martin Jolicoeur
