LThe Vesoul commercial court on Friday pronounced the judicial liquidation of the French logistics vehicle manufacturer Gaussin, whose debts are high, we learned from the registry.
After several sales of subsidiaries following significant financial difficulties, the Gaussin company, based in Héricourt (Haute-Saône), still employs around sixty employees, compared to 400 at the start of the year, according to figures from its management.
The commercial court “rejected” on Friday the two takeover offers submitted to it, regretting the insufficient proposals.
“The prices proposed (takeover offers, Editor’s note) are indecent with regard to the liabilities and in addition to the social damage, many local businesses and financial establishments will directly suffer the consequences,” estimated the court in its judgment, including AFP took notice.
No activity is any longer possible, due to a bloodless cash flow, according to the court which mentions debts of around 140 million euros, for 235 creditors.
The first offer was proposed by the consortium Coral Reef Capital and Sandton Capital Partners, which in July took over Mettaliance, a former subsidiary of Gaussin based in Saône-et-Loire.
An offer of 300,000 euros
The consortium offered 300,000 euros to take over the patents, stocks, as well as around twenty employees.
The second takeover proposal came from the company ARC 02, supported by Christophe Gaussin, general manager of the eponymous company. He succeeded his father, Henri-Paul Gaussin, at the head of the family business created in 1880.
During the hearing before the commercial court, the Vesoul public prosecutor’s office opposed the takeover offer from the company ARC 02 and issued an unfavorable opinion to that of the consortium Coral Reef Capital and Sandton Capital Partners.
In both cases, the prosecution considered that the offers were “not viable over the long term” given in particular the extent of the debts accumulated by the company.
A procedure to safeguard the company was opened in April, before moving into receivership.
A manufacturer of vehicles intended for logistics, Gaussin has encountered economic, financial and governance difficulties since 2023, when the group was unable to honor a large contract for 355 electric models intended for customers in North America, including Amazon.
