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.
The Commercial Court of Fort-de-France ordered the liquidation with immediate effect of the France-Antilles group, which published the only daily newspaper in the overseas departments of Martinique, Guadeloupe and Guyana. The group had been placed in receivership since 25 June 2019. The Commercial Court was not convinced by the takeover file presented by the shareholder AJR Participations. The shareholder plan was not considered feasible; it had made a takeover offer of €7 million, planning to keep 125 of the group's 235 jobs.
The two islands of Martinique and Guadeloupe and French Guyana will be the first and therefore the only regions in France to be deprived of a daily newspaper.
Update 26/03/2020: the Commercial Court of Fort-de-France has agreed atakeover offer to take over France-Antilles, which was put into liquidation at the end of January. NJJ, a personal holding company, offered in early March to take over all three editions of the daily and to keep 126 of the group's 235 employees. Therefore 109 employees will not be retained.
Eurofound (2020), France Antilles Martinique, Bankruptcy in France, factsheet number 99757, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99757.