No full relaunch for Groenoord

Published: 2025-03-20 10:01:16 ET DE

In recent weeks - since the announcement of the bankruptcy on Feb. 10 - all concerned have been working to achieve a relaunch. This has not been successful. Several parties have expressed interest in continuing Groenoord. The trustees have therefore entered into negotiations with several parties. The parties involved were not reported.

Despite the interest shown in Groenoord, the bids made did not lead to a viable solution. The reality, the trustees report, is that all the bids were far below the appraised value. In addition, the bids contained too many caveats and conditions. As a result, the trustees and security holders felt it was not in the best interest of all creditors to cooperate. A crucial factor of importance was the cooperation of manufacturer John Deere. A restart of Groenoord would have a chance of success only if an interested party obtained a new John Deere dealership. John Deere was not willing to admit anyone as a dealer. As a result, all parties involved jointly decided that a full restart was not a realistic option. "The trustees would have liked this to be different, especially for the staff. A restart would also have served the social interest of employment," the press release reads.

Relaunch per branch

The receivers are now investigating the possibilities of a restart per branch. The receivers are now holding talks with several parties who have expressed interest in taking over and continuing a single branch. The receivers are hopeful that a restart of Groenoord is still possible, but in separate units and without an umbrella dealership with John Deere. In that case, a joint John Deere dealership will not be continued from all of Groenoord's current locations in the north of the Netherlands, but the activities at each location may be continued.

Opportunities for personnel

The trustees expect that there will still be opportunities for Groenoord personnel to find new employment at a particular branch.