Alliage Assurances

Type
Bankruptcy
Country
France
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
160 jobs
Number of planned job losses
Job loss
Announcement Date
28 September 2018
Employment effect (start)
1 October 2018
Foreseen end date
31 October 2018

Description

The Commercial Court of Paris has pronounced the liquidation of Alliage Assurances (ex-SFS France) which was placed in receivership since August. The 160 employees will be dismissed. SFS France was bought for one euro symbolically in June 2018 by Bolero Participations, then it was renamed Alliage Assurances. As there were no potential buyers and without the payment of €5 million promised by Bolero Participations to pay the salaries of recent months, the Commercial Court of Paris has ended the slow winding down of the company.

Citation

Eurofound (2018), Alliage Assurances, Bankruptcy in France, factsheet number 95553, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/95553.