AST Groupe : opening of a safeguard procedure

(CercleFinance.com) - Timber-frame house builder AST Groupe plunged on the Paris Bourse on Friday, following the announcement that it had been placed under accelerated safeguard proceedings for a period of four months.


The developer had been holding discussions with its various partners, guarantors, bankers and public creditors for several months, but was unable to reach an agreement with all its creditors.

At the end of March 2024, the Group's cash position stood at 13 million euros for debts of over 25 million euros, giving a net debt of over eight million euros.

AST intends to remain "fully operational" throughout the four-month observation period, and will subsequently submit a business continuity plan to the Lyon Commercial Court.

At 12:10 pm, the share price - which resumed trading this morning after being suspended since April 8 - was down by more than 14%.

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