Gaussin: safeguard procedure converted into receivership

(CercleFinance.com) - Gaussin, a manufacturer of transport and logistics vehicles, announced on Thursday that its safeguard procedure had been converted into a receivership following a decision by the Vesoul Commercial Court.


In a press release, the company explained that it had been unable to raise the funds required to finance its observation period, which was accordingly renewed for a further six months.

This extension - effective until April 3, 2025 - should enable the company to prepare for the continuation of its business through a continuation plan, including a restructuring of liabilities and capital.

Gaussin, which says it is seeking new financing to secure its liquidity for the six-month observation period and to meet the needs of the plan, indicates that a call for tenders has been launched in parallel to consider a possible plan to sell the company, with a deadline for bids set for November 4.

An update will be given at a hearing scheduled for November 5, to assess the company's cash position and order book.

As of September 27, the company's cash position stood at 1.8 million euros.

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