Health crisis, takeovers in legal redress intensify
While a second containment has just been set up by the Government, the health crisis is impacting businesses in many sectors. Already affected by the first containment in March, stopping the activity of groups in many sectors… They now face a second stop, a few weeks before the holiday season. This blow pushes some companies to put the key under the door, for lack of cash. This lack of cash is also reflected in the decisions of the Commercial Courts, which announce numerous judicial remedies. Potential turnarounds in the future…
Recovery as a solution to the health crisis for businesses
In order to avoid the closure of long-running companies in the territory, which provide important services, some groups choose to position themselves as takers. These include the case of the Interway Group, based in Vitrolles. It is a software solutions developer and integrator group that provides advice and expertise to companies on their technology needs. A solid group within its sector, it was chosen by the Paris Commercial Court to take over the assets and 90% of the employees of the company Odéolis. This company, which is in legal recovery, has been in existence for more than 25 years and has 85 employees following an initial restructuring. She is responsible for the on-site maintenance and deployment of technology and computer equipment in front office. The growing number of takeover offers demonstrates the situation in which companies impacted by successive crises find themselves.
Another case, in the food sector this time, the group Bio C’ Bon, specialized in organic food. With more than 120 stores in France, and 1,000 employees, this brand seemed untouchable. The takeover offer of groups such as Carrefour, Biocoop or Picard will be evaluated this Monday, November 2, 2020. A much-anticipated decision, which would save many funds from businesses and jobs in the territory. The brand has three stores in Bordeaux, and offers healthy, organic products. Another company in turmoil, the ready-to-wear brand Camaïeu, also saved thanks to the takeover. The taker, Michel OHAYON, is the head of the Bordeaux Real Estate Company (FIB). It saves 2,600 jobs out of 3100, and takes over 511 stores out of the existing 634. A great victory for a well-known and appreciated group in the clothing sector.
Saving groups involved in the national economy, a key issue
The health crisis has put businesses in a situation of extreme difficulty. The proposal to take over by a group then appears as a security to maintain employment. This situation is often found in companies that have developed their franchise network,with a significant territorial network. Thus, for the takers, it is then possible to take back all the know-how and skills of this network, benefiting from the brand’s already established reputation. However, a recovery is still a delicate operation, especially with the presence of strong competition. Each takeover offer is thus thought through and studied, notably through market research. This allows the buyer to properly measure the opportunities and risks of the takeover of the company. Faced with the increase in takeover offers for companies of all sizes and sectors… Many groups offer an offer to continue to make the brand exist.
But the situation spares no one. Proof of this is with the companies mentioned above, brands that have existed for decades and have a strong reputation. Companies including Alinéa and Conforama, both specialized in furniture. Groups that have an important territorial network, and a reputation that is no longer to be proven…
Press release – Interway Group – 22 October 2020 – External growth: INTERWAY takes over ODÉOLIS assets
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