Econostrum | Economic News in the Mediterranean



Alinea could sell 17 shops and 1,000 jobs

Alinea is going to reduce its number of shops (photo: DR)
Alinea is going to reduce its number of shops (photo: DR)
FRANCE. Placed in receivership in May 2020 with liabilities of €12 million for a turnover of €257 million and a negative result of €62 million, Alinea was only able to collect three partial takeover offers. The first is the one submitted by its current shareholders, namely its CEO Alexis Mulliez, who holds 15% of the shares, and the Association Familiale Mulliez (AFM, 85%), brought together for the occasion within the Néomarché entity. The others only concern the Poitiers shop coveted by the Foir'Fouille and Gifi to extend their own networks.

The Commercial Court of Marseille met on Monday 31 August 2020 to study these projects and will give its decision in the coming days.

Based in Aubagne, near Marseille, the furniture chain has twenty-six shops. The main offer - the only one avoiding the liquidation and disappearance of Alinea - concerns only nine of them and 865 jobs out of the 1,851 existing ones. At the same time, Néomarché will inject €2m in back-to-work aid for its employees not retained, most of whom will be offered new jobs on permanent contracts within one of the Mulliez family's companies or others. Alinea will sell its head office and the shops not taken over. The current shareholders would then benefit from a post-Covid government order of 20 May 2020 allowing exemptions to the current law prohibiting managers of a company filing for bankruptcy from holding assets in the company for five years.
Alinea was founded in 1989 by Auchan and acquired in 2017 by Alexis Mulliez, owner of Auchan and Décathlon.

Frédéric Dubessy

Monday, August 31st 2020

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