Alvarez, a major French distributor of bicycle products, has gone into receivership, reportedly because of its inability to pay outstanding debts of €8 million. The company began to suffer financial problems after losing the distributorship of Look and Specialized for France in 2006. It still distributes the products of Campagnolo and some other foreign companies. José Alvarez, who founded the company in 1947, has not been involved in its management for many years. A new managing director, Eric Calmand, was appointed at the beginning of 2008.

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