After the endless financial difficulties of the former newspaper distribution giant, Presstalis, a bankruptcy administration was introduced in mid-May. the page turns
After the endless financial difficulties of the former newspaper distribution giant, Presstalis, a bankruptcy administration was introduced in mid-May.
A page turns for Presstalis, which became France e-Mail: the Paris Commercial Court on Wednesday confirmed the newspaper’s bid to recover the former print distribution giant, which has filed for bankruptcy.
which provides 22,000 points of sale for newspapers and numerous magazines, it will be necessary to restore the system and regain the confidence of the publishers.
After endless financial difficulties, suffering a drop in newspaper sales and an ill-fated investment, Presstalis was placed in receivership in mid-May. But its branches in the regions were liquidated, resulting in more than 600 layoffs at 917.
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Broad state support.
The newspaper has been in protracted negotiations with the magazines, Presstalis’s majority shareholders, over restarting the giant. However, numerous journalistic groups no longer wanted to participate in that system, they were accused of being too expensive, opaque and poorly managed. They went to a competitor, in MLP, which claims to now control the majority of print traffic in France.
The newspaper is completed with a unique offer, supported by several large magazine groups. And above all the broad support of the State, which provided support worth almost 200 million euros.
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Louis Dreyfus, president of the Cooperative of Newspapers and therefore of France, e-mail, rejoiced at the press release of the court’s decision. “The priority of France e-Mail, with more than 250 employees, is now to build relationships of trust, transparent and sustainable, with all the actors in the value chain”, emphasizes who is also president of the world’s executive board.
“The continuity of the distribution of the press throughout the country is a democratic demand that the state will continue to protect,” Economy Minister Bruno Le Maire and Culture Minister Franck Riester said in a joint press release. “The government will continue to take into account the social consequences of this restructuring,” they added.
build trust
“The suspension of payments by Presstalis has left many publishers in a precarious situation, has diminished the network of stations and has hurt the corporate body after the necessary reductions in staff and the liquidation of certain entities of the group”, according to Louis Dreyfus. “Tomorrow, France e-Mail will have to work tirelessly to secure its economic model and provide publishers with a high-quality service, while guaranteeing publishers their financial flows,” he adds.
many publishers lost several months of sales, which is about a hundred million euros that Pressstalis blocked and swallowed in bankruptcy. They are also collectively forced to pay a pending contribution of 2.25% of their sales to help the distributor recover.
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One of its unions, SAEP, refused to “contribute” to the “start-up financing of a handful of billionaires” and filed an appeal against this contribution, which is due to be reviewed by the Vienna commercial court on Thursday.
As of Wednesday, France e-Mail is managed by Cédric Dugardin as Presstalis, the former Conforama appointed in February to manage the giant. The distributor was present in half of the area that retains two sites: Bobigny (Seine-Saint-Denis), dedicated to the daily, foreign press, and for the distribution of Paris, and the logistics center of Bonneuil (Val-de-Marne).
continue distribution
The bankruptcy of Presstalis posed great challenges for distribution in several French regions. Newspaper deliveries resumed on Wednesday for Lyon, while a solution for Marseille is still being negotiated, according to the Book-CGT union. The former employees want to take over distribution through the cooperative. “With the unions, France e-Mail will continue the ongoing discussions to remove the remaining blocks,” said Louis Dreyfus.
This new post office, is it sustainable in the long term? “The plan we are implementing is complex, expensive, painful, but necessary. It allows us to consider the future (…) in anticipation of the opening of the competition in 2023,” said Cédric Dugardin at the beginning of June, indicating his intention to use the new Presstalis for a logistics group, such as Geodis or The Post office.
MLP is also open to “all possible collaborations, as long as they are in the best interest of the network,” according to its president José Ferreira. He rejects, however, any “merger or acquisition”, a solution that has long been mentioned to save the print distribution system.
Date updated: July 2, 2020 at 2:58 PM
Categories: Optical Illusion
Source: newstars.edu.vn