Business these French groups, pushed into bankruptcy or restructuring

these French groups, pushed into bankruptcy or restructuring

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The crisis of the sars coronavirus has precipitated several French companies, some of which were already in trouble, in bankruptcy or restructuring, with serious consequences for employment.

Automotive

Renaultin financial difficulty, provides for the elimination of about 15,000 jobs in the world, with 4600 in France, in the framework of a savings plan of more than 2 billion euros over three years.

Four French sites should be allocated: Caudan (Morbihan), Dieppe (Seine-Maritime), Maubeuge (Nord), and Choisy-le-Roi (Val-de-Marne), which will be closed at the horizon 2022. The project also includes the shutdown of auto production in Flins (Yvelines) after 2024.

The manufacturer of heavy-duty Renault Trucks has announced the abolition of 463 jobs among its white-collar employees.

Aerospace

According to les Echos, “the reconstruction plan ofAir France (…) should count from 8000 to 10,000 job cuts, or 15% to 20% of the workforce”. The figure to include job cuts on a voluntary basis, has not been confirmed by the management.

Airbus prepares its employees for making “bitter” and could announce headcount reductions, by the end of July.

Furniture

The sign Paragraph (2000 employees), based in Aubagne (Bouches-du-Rhône) is in receivership since may 13.

Conforama, in great difficulty for several months, has suffered the crisis-hit without being able to obtain a loan guaranteed by the State. Aim plans to resume Conforama, its 8,000 employees and its 165 stores in France. It is committed to pay the 150 million euros of invoices from suppliers, a third of whom are French. Aim is also committed to finance the redundancy scheme of 1900 employees announced in the past year, the cost of which reached 116 million euros.

Media

The mother house of BFMTV, BFM Business and RMC, NextRadioTV (1600 employees), wants to remove 330 to 380 CDI and up to 200 freelancers and intermittents. The group’s subsidiary Altice was announced in mid-may, a “plan of transformation and of reclaiming post-Covid” planning to reduce sail in the sports and entertainment. Penalised by the discontinuation of the major sports competitions, the chain of sports information RMC Sport News ) was arrested on 2 June.

Reworld Media, the owner of Grazia since 2019, wants the elimination of 31 positions, and discontinue the weekly release of the magazine.

Shoes and clothing

The brand of ready-to-wear male Celio (4000 employees worldwide) has requested that the June 22, to be placed under backup procedure in the absence of agreement with its banks. The closure of its 1585 stores in the world-has resulted in a loss of turnover of almost € 100 million between march and may.

The brand shoes and clothing The Halle (Vivarte, 5.391 employees in France), is placed into receivership since June 2. The group Vivarte has received 25 offers of partial recovery, which would save theoretically up to 607 stores on 830.

The brand of the shoes of the group Spartoo André (600 employees) was put into receivership at the beginning of April after having had to close its stores and lost almost € 4 million the last two weeks of march.

Naf Naf (1.170 employees), placed into receivership on may 15, will be acquired by the industrial group SY, who is committed to maintain 75% of jobs in France.

Cameo: the business of ready-to-wear (3.900 employees, 634 stores) was put into receivership on may 26, with an observation period of six months. The government said to seek a buyer.

The manufacturer of the jura eyewear The Amy (120 employees) was placed on June 2, in receivership.

Leisure

The direction of TUI Francefirst tourist operator in the country, announced on June 17, wanting to remove up to 583 positions, or two-thirds of its workforce.

The group of digital media Webedia, a subsidiary of the group Fimalac, headed by Marc Ladreit de Lacharrière, which has fifty sites and apps dedicated to entertainment and leisure has prepared a plan for voluntary departures of 80 to 90 people.

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