The two French sites should be taken up at the bar of the Paris Commercial Court.
The metal recycling specialist asked on Friday to be placed in receivership proceedings. “The company will not have sufficient cash to meet its liabilitiesRecylex said in a statement. Consequently, the company will be in a state of insolvency and is preparing to request the opening of receivership proceedings before the Paris Commercial Court.”
A logical outcome when the company received takeover offers amounting to 2.5 million euros for its two sites in operation, in Escaudoeuvres (North) and Villefranche-sur-Saône (Rhône), and less 0.5 million for the one, arrested, from L’Estaque, in Marseille. Opposite, the net debt stands at 52.2 million euros, to which are added 16.2 million for environmental risks and liabilities. For Recylex, this is the conclusion of twenty years of serious difficulties.
Fine for cartel
The company became known as Metaleurop in 2003, during the liquidation of…
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