Logiplast-TeamTex, yet another company working for the automobile industry which is closing the door

One more in this sinister context which threatens the French automobile industry. This Wednesday, October 23, the Grenoble commercial court declared the closure of Logiplast-TeamTex in Charvieu-Chavagneux (Isère). The end of the two structures, which manufacture on average 12,000 child car seats per day, will put 160 employees out of work.

On its site, TeamTex displays good references, announcing a presence in 56 countries around the world and a position as the leading seller in France, where it holds 60% of the market share. The gates of the company founded in 1994 have been closed under seal since Wednesday. Because behind the figures put forward on the website lies a particularly delicate financial situation. Despite a turnover increasing by 9% between 2020 and 2022, the net result plunges: -1.41 million euros in 2021 and -31.1 million euros in 2022.

However, employees cherished the hope that the company would survive such a deterioration in its accounts. In December 2023, the German investment fund Mutares acquired just over 83% of the French structure, leaving the remaining 17% to the founder’s two sons. Optimistic, he then explained that he wanted “develop activity in France and internationally&nbsp», convaincu que TeamTex avait «&nbspstrong growth potential thanks to its solid position on the French market“. The Germans are said to have invested 5 million euros to help the group, while reducing the workforce from 200 to 160 people.

“Mutares gravediggers of businesses and jobs&nbsp»

It is then difficult to imagine what would happen next, and above all, how quickly. Barely 6 months after its entry into the capital, Mutares requested that the two structures be placed in receivership. “Significant transformation measures have been taken to…