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"Companies will not be able to finance both a difficult recovery and meet their debts": professionals see the wave of bankruptcies coming

2020-05-18T09:14:04.246Z


DECRYPTION For two months, the loans guaranteed by the State placed the companies on a drip, coming to strengthen their cash flow during the collapse of the activity. In the post-containment world, restructuring professionals now anticipate a massacre of procedures from the summer.


" Where the Anglo-Saxon countries aim to best deal with the interests of creditors, we seek to save the company, " insists Maître Frédéric Abitbol at Le Figaro, extolling the merits of the French restructuring system. The administrator, who has worked on the famous Partouche, SNCM, Doux and Tapie files, is very recognized, as is Maître Hélène Bourbouloux. The two administrators notably worked in duet to save the cascade of holdings of the Casino empire.

Read also: LBO companies are going through difficult times

The power of the government guaranteed loan scheme (PGE) has helped to avoid a priceless wave of bankruptcies. », Assures me Frédéric Abitbol. According to the latest data, the banks have granted 57 billion euros in PGE out of a total of requests fluctuating around 85 billion. For two months, the EMPs placed companies on a drip, strengthening their cash flow during the collapse of the activity. At the same time, large groups have also drawn on their credit lines

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Source: lefigaro

All business articles on 2020-05-18

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