A company in a state of insolvency
It is 2 p.m., Saturday, November 26. The 54 “angry” employees of Vallourec Umbilicals who have occupied their Venarey-Les Laumes plant for forty-eight hours are meeting for a last symbolic and sad photo. Their children, companion and companion are also present, as well as the banners of the CGT union.
The management of the company, which manufactures special tubes mainly for the oil industry, announced to them, Thursday, November 24, its intention to file for bankruptcy at its brand new factory in the north of the Côte-d’Or, held in 51% by the Vallourec group and 49% by the French public investment bank Bpifrance. A procedure that might end in a judicial liquidation. In question: economic difficulties amounting to several million euros and a situation of cessation of payments. The decision should be formalized this Monday, November 28 by management during a…
