(CercleFinance.com) – Safe, a specialist in ready-to-use technologies for back surgery, announced on Wednesday that it had been placed in receivership.
The group had announced at the end of July the suspension of the financing contract concluded with the investment fund Alpha Blue Ocean and its desire to initiate steps with a view to the opening of collective proceedings.
The reorganization proceedings – which concern the company and its French subsidiaries – were pronounced last Monday by the Commercial Court of Pontoise, with an observation period of six months.
By placing itself under the protection of the commercial court, Safe says it wants to continue the restructuring initiated since the beginning of the year in order to reconstitute its cash flow.
In a press release, the company assures that it intends to work actively with the judicial administrator appointed by the court in order to establish a plan for the staggering and repayment of its debts.
Safe stresses that its priority is to seek funding or strategic partnerships that can guarantee the long-term sustainability of the company.
Listed on the Paris Stock Exchange, the Safe share fell 24% on Wednesday following this announcement.
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