An agreement will help the Giant Verrier crossing financial difficulties. An envelope of 45 million euros must allow the company to loop its year.
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It took three months and an audit to buckle the tour de table. This Wednesday 1 er December, An announces that an agreement has been found to help the Giant Verrier Arc International that has been going through new financial difficulties for a few months, “both for cyclical causes and Operational management difficulties of society, “said the Ministry of Industry. A hearing at the Lille Commercial Court allowed the morning to arrive in the development of an agreement that provides for an envelope of 45 million euros to allow the company to complete its year. The agreement must be approved by the court of the mid-December.
By September 19, the Minister’s Industry Minister, Agnès Pannier-Runacher had warned the Northern Business Directorate: “Shareholders and leaders need to take their responsibilities. We can understand that, of time In time, there are difficulties in the conduct of a business’s life, but we are a little stupefied of this situation that has nothing to do with the know-how of employees, nor with the filled order notebooks block, nor with the recognition of the bow brand. ”
” Relieved but Dubitative “
After an industrial audit and the announcement of the funding by the shareholders, the Ministry of Industry, “reassured”, provided aid of 14.7 million euros to which are added 16 Million of own substantive shareholders, 13 million a new private lender, and an envelope of 1.3 million local authorities (1 million of the Hauts-de-France region and 300,000 euros in the agglomeration community of the Pays de Saint-Omer). To these loans add a grant from the state of 4 million euros for decarbonation as part of the stimulus plan.
Buyed by the US Investment Fund Peaked Hill Partners (PHP) to the Durand Family, in 2015, Arc International had already obtained a state loan in May 2020 of 31 million euros, expiring 4 months, which had been refinanced by a public loan of 108 million euros on September 4, 2021. “As secretary of the CSE, I am relieved but dubitative on our ability to make the changes in mentality in this company of 4,700 employees, Reacted Patrice Bollengier. It is extremely complicated. Our main problem is related to the organization and our internal functioning. “
The general manager of the Nordist site, in position since 2017, Tristan Borne, had been dismissed in early September. Succession has been insured by Nicholas Hodler, the band’s boss. Management and shareholders had announced three months ago a need for at least 20 million euros to complete the year. In question, “a temporary cash offset linked to internal and external elements, including the increase in the cost of raw materials or the tripling of the price of gas”, had detailed the direction. An increase in prices of 10-12% has been passed on to customers.
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