Office Depot-Viking France Seeks Creditor Protection Due To insolvency. With reference to the consequences of the Covid19 pandemic in France, Office Depot Europe has filed an application for the opening of judicial restructuring proceedings.
The application relates to the retail and wholesale business in France, which is severely affected by the Covid19 pandemic and the associated lockdown, announced the owner Aurelius Investment. In the judicial reorganization proceedings, negotiations with several interested parties about the sale of the business operations will be conducted under the supervision of a court-appointed administrator. The turnover of Office Depot France in 2020 was around 280 million euros, and the result was clearly negative, continues Aurelius, pointing out that the last published net asset value of the Office Depot Group will not be reduced as a result. The French business has been run independently for years from the rest of the group.
Office Depot Europe recently sold its business units in Eastern Europe, Scandinavia and Spain. The focus is currently on the digitization and marketplace strategy Viking +, in which the two business areas Direct and Contract are merged. All customers from B2C to major B2B customers will in future be served by a common organization and a uniform, fully digital technology platform. The essential organizational, procedural and technological prerequisites should be completed this year and all Office Depot Europe business processes should be digitized and accelerated. https://www.pbs-business.de/news/handel/08-02-2021-office-depot-stellt-in-frankreich-antrag-auf-sanierungsverfahren/