150 Employees Threatened With Fear Of "Liquidation Organization" ….

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Date: Tuesday June 4, 2019 10:25:47 am | Views: 110

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    150 Employees Threatened With Fear Of "Liquidation Organization" At Office Depot France.
    The unions of Office Dépot France, which employs 1,871 employees nationwide, fear a liquidation. For this last reason, the central works council would have filed a complaint for abuse of social good.  The central corporate committee of Office depot France (office supplies) filed a complaint last week for abuse of social good, according to union sources, who fear a liquidation, which management has strongly denied.
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    The fear of a "liquidation organization"
    Office Depot France, which employs 1,871 people, and 150 in Meung-sur-Loire, was acquired by the European division of Office Depot in January 2017 from a German fund, Aurelius. According to the unions Unsa and CFE-CGC of the company, " Aurelius has made the capital disappear and go back to the fund vulture , by different legal-financial techniques, at least 98 million euros from the French operating subsidiary".
     
    "In March, the new CEO appointed by the shareholder announces that there is more than 15 million euros in cash and that Office depot France will not spend the summer because it would not be able to to buy the stocks necessary for the sales of the re-entry, when the turnover is created mainly ", add the two unions.
     
    They fear "an organization of liquidation" as it happened according to them for three French companies bought in recent years by Aurelius, including Quelle (which was located in Saran).
     
    Faced with this threat, the unions first seized the judge of the High Court of Senlis (Oise).
     
    The hearing for the summary will take place on May 28
    " There is no plan to open a collective procedure (bankruptcy or liquidation)," reacted to the AFP Guillaume de Feydeau, President of Office depot France.
     
    He pointed out that "as soon as he arrived in March, he drew up an inventory of the situation he presented to his shareholder and is working on 2019 – a year of transition – on a transformation plan aimed at achieve the balance in 2020 ". A "road map" is to be presented in June to the shareholder for the next 24 months, after the management has unveiled the "first elements to the CCE before the end of May".
     
    According to the president of the company, Office Depot France "does not present any debt for a turnover of 380 million euros and disposes of significant assets". It does not provide "no social plan" .
     
    Aurelius was convicted in 2012 by the Orleans Commercial Court for "misconduct" against the mail order company, which filed for bankruptcy in 2009.
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