The French equipment manufacturer, official supplier to the French team for the Paris 2024 Olympic Games, is looking for a new lease of life. Two candidates are in the running for its takeover, one of which is supported by the public authorities. Placed in receivership since November, Le Coq Sportif may be seeing a way out. The company, which employs around 300 people in France and whose historic factory is located in Romilly-sur-Seine (Aube), is attracting interest from two buyers. One of them would be able to present a genuine recovery plan, according to the Grand Est region, the brand's creditor.
Support conditional on industrial recovery
This project, supported by the state, aims to maintain activity in the Aube region and ensure better management of both public and private debts. Conversely, the other application relies on the sale of licenses internationally, with no guarantee of maintaining local production. To facilitate the recovery, the Grand Est region has already agreed to forgive 50% of its debt, or €1,2 million, with the balance spread over ten years.
A heavily indebted company
The equipment manufacturer, which obtained a €2021 million regional loan in 2,65 to modernize its production for the Olympic Games, currently has between €60 million and €70 million in public debt, including €42 million loaned by the state. Creditors will be consulted in April by the receiver, before the plan is potentially validated by the Paris Commercial Court. Le Coq Sportif and its Swiss parent company, Airesis, have not yet responded.
