It is a story of corporate restructuring as France unfortunately knows so well.
That of a former national flagship, Solocal, suffocated by a debt that it has been carrying since the early 2000s. With, as creditors, Anglo-Saxon hedge funds which have by force of circumstances become the main shareholders of the company .
And a handful of professionals in high-risk situations: administrator Hélène Bourbouloux or associate lawyer at Gibson Dunn Jean-Pierre Fargès, who have been working since last summer on its fourth restructuring in eight years.
The former publisher of the famous Yellow Pages, converted to digital marketing for small and medium-sized businesses, is now at stake for its survival.
Time is running out since he must repay a bond of 175 million euros in 2025, after having already missed interest payment deadlines.
Now, its 2,300 employees are holding their breath before the possible arrival of a new…
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