justice has approved the funding agreement between the group Financière Turenne-Lafayette, home mother of William Saurin, its banks and the State. This plan is based on the loan of 66 million euros, and a gel of the receivables.
Finally a bit of hope in the sad saga of William Saurin. Justice has validated the financing agreement between the group Financière Turenne-Lafayette, home mother of William Saurin, its banks and the State, in order to save the group, threatened after the discovery of fake accounts, announced on Friday that the government. The agreement was approved Thursday by the tribunal de Commerce of Paris, said the secretary of State in charge of industry Christophe Sirugue in a press release.
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This financial agreement with the creditor banks of the group agri-food had been announced by the secretary of State on 20 December. The rigging of the accounts of the holding company that includes mainstream brands (William Saurin, Madrange, Paul Prédault) was discovered shortly after the death of the leader of the group, Monique Piffaut, at the end of November.
“This financing plan gives prospects for the group, allows the preservation of its activities and jobs, and gives him the necessary time to research solutions backed by 2017″, said the secretary of State in the press release. This plan is based on the loan of 66 million euros and the “freezing of all maturities of the financial liabilities of the group on a year” by the banks. The State contributes its share to the tune of approximately $ 13 million in the framework of the fund of economic and social development (FDES).
“The result now depends on a lot of the suppliers and their credit insurers, as well as of the great distribution, that I invite to contribute to this collective effort, which depend on over 4,000 direct jobs and several agri-food chains French,” said M. Sirugue, quoted in the press release. The State is heavily involved so that the group avoids the liquidation. As soon as the announcement of the discovery of the rigging of the accounts, he had claimed to have deposited € 70 million in a fund dedicated for the purpose of maintaining the activity of the group, then in danger of disappearing.