Question 9807 — businesses

Summary

For several years, the State has been supporting the Actissia group, which is experiencing difficulties linked to a decline in the book market, the absence of restructuring measures and the failure to diversify its activities undertaken by its former shareholder. Starting in 2014, several successive plans were granted to reimburse the tax and social liabilities built up over time in order to allow the new shareholder to carry out the transformation of the group. Despite the efforts made, no investor has shown interest in supporting the current shareholder and manager of the Actissia group in this transformation plan which would ensure the sustainability of its activities. It is under these conditions that in a state of cessation of payments, the operational entities of the group requested the opening of a judicial recovery procedure on December 1, 2017, while the holding company Actissia Club placed itself under the protection of the court on the same day through a safeguard procedure. The State supported the recovery plan drawn up by the shareholder and accompanied the latter in seeking financing from its partners, which was ultimately unsuccessful. The arrival and commitment of this new investor to provide the funds required for the plan, allowed the consultation of creditors on the drastic hypotheses on which the latter was based. Here again, the State supported the group by accepting a remission of an exceptional level of the tax and social liabilities established, in accordance with the conditions provided for by article L. 626-26 of the commercial code. Unfortunately, the prospective investor did not provide the funds within the time required for the court to finalize the plan. recovery. The only solution today lies in a new effort by the shareholder who has committed to the court to provide the necessary funds so that the plan can be finalized, to the extent that there is now nothing to say that this investor, who has declined all the invitations made to him to meet, will provide these funds. It does not belong to the State, which is already making a significant effort for this group in the discount granted, to replace the latter or any other private investor. The rules for State intervention for the benefit of a company subject to insolvency proceedings are strictly governed by national law but especially by European law. However, the conditions for the State to intervene, as a wise operator in a market economy, are not met in this case. However, the State will continue to support the Actissia group in overcoming its difficulties and will provide it with all the support it can.

Machine translation from French. The official text remains authoritative.

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