Bruce Willis 'to rescue' French workers from cuts
Published on: 04 Feb 2013 11:22 CET
The top individual shareholder in the company thanks to his promotion of the vodka brand, Willis told the French business daily Le Figaro that he would support Belvedere's restructuring at a shareholders meeting.
Last year the company, which has been in bankruptcy protection for over four years, reached a deal with creditors to wipe away more than €500 million ($680 million) in debt and give them a stake in the company.
Shareholders will have their say on the deal at the February 12 meeting.
Although Willis will see his 3.0 percent holding reduced in the company, which he received as compensation for promoting Sobieski Vodka, he said there were too many jobs on the line to contemplate liquidating the company.
Restructuring Belvedere, which employs 3.650 people worldwide, is the only option which makes sense, said Willis, who said he would not attend the shareholders meeting in person.