In November, the largest cooperative group in France lost a major contract with the telecom giant, plunging its turnover.
The Scopelec group (3,600 employees), a subcontractor for Orange for the installation of optical fiber, is in the safeguard procedure after the loss of a major contract with the French telecom giant, he announced on Friday. .
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“By a judgment of March 17, 2022, the Commercial Court of Lyon decided to place the company Scopelec SA in safeguard proceedingsthe company said in a statement. “At 1er April 2022, unless the situation changes in a favorable direction, more than 1,000 employees could find themselves without activity“, also warned the company. Scopelec, the largest cooperative group in France, lost a major subcontracting contract with Orange in November 2021, which should cause it to lose around 40% of its turnover, estimated at 475 million euros in 2021.
Reorganize the business
The leaders of Scopelec had publicly alerted in January to the risks weighing on the company, asking that solutions be found to allow it to pass this difficult course. “In almost 4 months, Scopelec has received only partial and inconclusive answersthe company said in its statement on Friday. The safeguard procedure is aimed at companies in difficulty and which are not yet insolvent.
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The objective is to facilitate the reorganization of the company to enable it to maintain its economic activity, jobs and to ensure the settlement of its debts. According to the website of the Ministry of Economy and Finance, the backup procedure generally ends with the establishment of a backup plan. But it can also lead to the placement of the company in receivership or liquidation.
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