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Why Algeria's richest man Issad Rebrab let Brandt collapse
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Why Algeria's richest man Issad Rebrab let Brandt collapse
Issad Rebrab, the Algerian industrialist who built Cevital into a global buying force, decided not to pour fresh money into Brandt, and the storied French appliance maker slid into liquidation, ending years of uncertainty for workers and suppliers.Brandt, a familiar label in French kitchens, had been struggling under a heavy debt load, thinning sales and a market squeezed by low cost imports and tight retail margins. After reviewing the company’…
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