5aSec, in a receivership procedure

According to the French trade magazine L’Entretien, the Commercial Court of Paris opened on April 28, 2020 a receivership procedure for 5àsec. The observation period runs for six months, until October 28, 2020. In a company statement, it is mentioned that the onset of the crisis led 5àsec’s shareholders and lenders to suspend the investment project which was on the point to be implemented. In parallel, the closure on March 16 of all stores generated a shortfall of several million euros in 2020. This procedure is believed to give the company time to update, with its shareholders and its lenders , the financing plan which was supposed to be put in place before the crisis.

According the same statement, all of the technical, marketing, training, operational and HR teams of 5àsec are mobilized to provide support to the stores.