(AOF) – Gaussin announces the opening of a safeguard procedure by the Vesoul Commercial Court, a decision which “is part of a desire to guarantee the sustainability of the company and maintain employment”. The Court opened a renewable observation period of 6 months. “There is no situation of cessation of payments and operational continuity over the next six months is ensured by positive cash flow as of March 21, without recourse to external financing” underlines the specialist in innovative mobility.
During this observation period, the boss Christophe Gaussin and Me Charles-Henri Carboni, judicial administrator, will work on a continuity plan and an adjustment of debt maturities. In particular, they will continue the restructuring measures already initiated and “will work to mobilize new industrial and financial partners in order to ensure a sustainable revival of activities”.
The group warns that it “will not be able to finalize and publish its financial statements of December 31, 2023 on time”, and that these “will be published at a later date”.
Gaussin accuses in particular of “poorly controlled orders” from its subsidiary Metalliance “resulting in 34 million uninvoiced outstandings as of December 31, 2023”. Metalliance entered into safeguard procedure, following the “contentious unilateral and without consultation” decision of its general director, which “only accentuated the difficulties”.
At the same time, the efforts made to find new financial partners “have not been able to materialize to date”. Expressions of interest “do not provide the group with a lasting refinancing solution”, and the mission of Steve Filipov, deputy general manager, has ended.
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