The spectre of liquidation looms large at KouGC
Despite the arrival of an administrator, the recovery plan to avoid bankruptcy at the Kouninef family owned group has been slow to take effect.
10/07/2020 at 06h28, by Africa Business+
Appointed by the Algiers court, Mohamed Larbi Haddoum arrived in September to lead KouGC, a family conglomerate specialising in civil engineering and hydraulics, which has been in great difficulty since the group’s three owners, Réda, Tarik and Abdelkader-Karim Kouninef, were placed in pre-trial detention. A rescue plan was promised, with the chief aim of ensuring that the prized Algerian business was kept afloat.
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