A European fruit marketer that licensed the name of a top U.S. berry shipper has been shut down by creditors.
AMS Marketing, an English company, has been put into administration, which is similar to involuntary bankruptcy in the U.S., in which a company’s assets are liquidated, said Jim Thompson, an attorney for Well-Pict Inc., Watsonville, Calif.
A subsidiary of AMS, Well Pict European Group, was a licensee of the Well-Pict name and imported fruit from the California company, Thompson said.
Thompson said he was informed of AMS’s being put into administration in mid-August. As of Sept. 1, he was still waiting to learn about a timeline and details of that process.
Well-Pict Inc. did not have a financial stake in Well Pict European and is not liable for any of the company’s debt, Thompson said. In fact, Well-Pict Inc. could be one of the European company’s creditors still owed money, he said.
It is too soon to know whether another European fruit marketer will take AMS’s place and market fruit under the Well-Pict brand, Thompson said.