EMCC European Monitoring Centre on Change

Laurent Père et Fils

Company/Organisation:
Laurent Père et Fils

Geographic Location

Country: France
Region: Loire; Rhône-Alpes; Centre-Est
Location of affected unit(s): Saint-Étienne

Company

Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
45.31 - Wholesale trade of motor vehicle parts and accessories
Number Employed: 130
Group: Groupe Laurent

Employment Effects

Announcement Date: 16-12-2019
Planned Job Reductions min: 130
Planned Job Reductions max: 130
Type of Restructuring: Bankruptcy
Employment Effect Start: 17-12-2019
Foreseen End Date: 31-12-2019
Direct Dismissals: 130

Additional Information

Two months after its placement in receivership, the Commercial Court of Saint-Etienne has decided the liquidation of Laurent Père & Fils, a company specialised in distribution of automotive parts and accessories. The court rejected three takeover bids, considering that they did not meet the legal requirements for maintaining employment, discharging liabilities and ensuring the viability of the operation. The court ordered the judicial liquidation of this company, which constituted the historical activities of the family group created in 1937 by the grandfather of the current directors. The last 130 employees, out of the 155 employees at the start of the receivership procedure will therefore be laid off.  Last year, the company achieved a turnover of €40 million.

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