Gaussin, in the throes of difficulties, announced on Thursday that it had obtained a safeguard procedure to guarantee the company's future and maintain employment.

The engineering group, specialized in the logistics sector, states that the Vesoul Court has opened an observation period for a renewable six-month period.

The manufacturer of driverless vehicles for the transport of goods points out that for several months it has been facing operational and governance difficulties which have severely impacted its industrial capacities, resulting in a drop in sales last year.

In addition, its working capital requirements have increased due to "poorly controlled" orders from its subsidiary Metalliance, resulting in 34 million euros of unbilled receivables.

On the financial front, Metalliance has also been placed under safeguard proceedings, resulting in a 16 million euro receivable owed to the group by Metalliance.

In a press release, Gaussin states that it intends to work on a continuity plan and a debt repayment plan, while continuing with the restructuring measures already initiated.

The company also plans to mobilize new industrial and financial partners to ensure a sustainable relaunch of its activities, efforts which have so far failed to materialize.

The group, which insists that maintaining employment remains its top priority, specifies that it is not in a situation of suspension of payments, with continuity of operations assured for the next six months by a positive cash position.

On the other hand, Gaussin indicates that it will not be in a position to finalize and publish its December 31, 2023 financial statements on schedule, which will be published at a later date.

Following these announcements, the share price fell by more than 50% on Thursday morning on the Paris Bourse, after having been suspended downwards on several occasions.

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