Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
On 3 October, the Commercial court of Bobigny announced the liquidation of the freight transport group Mory (5300 employees) which was placed in receivership last June. The court decided to divide the Mory group between two companies who take over its activities. The investment fund Caravelle took over the express transport activities, Mory Team (turnover, 450 m euro) and will preserve 2800 positions from a total of 3500. The social plan affected 800 employees and will be financed by the public authorities. The offer of Caravelle received the support of the central works council of Mory. The new management wants to build a French leader within the sector with the aim of merging within the next two years Mory express activities with Ducros Express (turnover, 300 m euro and a loss of 70 m euro in 2010), a company that Caravelle took over (ERM Factsheet) in 2009. The storage and logistics group ID Logistics (7200 employees, turnover 386 millions euro) took over the logistics activities (a turn-over up to 25 millions euro) and 250 of the 270 employees. Another activity of the Mory group, Mory SLD, Jura Transport was sold to the group Zamenhof (Jacky Pérennot group) for 4 m euro.
Eurofound (2011), Mory, Bankruptcy in France, factsheet number 72466, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72466.