This is one of the biggest social plans in recent years. The 2150 employees MoryGlobal (ex-Mory Ducros) are now fixed. The Commercial Court of Bobigny (Seine-Saint-Denis) ordered the liquidation of the carrier, Tuesday, March 31 in the late afternoon, “with continued work until April 30th.” The administrator must now “carry out consultations with trade unions” and “make the dismissal of employees” of the company
No takeover bid has been successful. – The main project, outlined by Transport Malherbe, which involved 141 people, was withdrawn at the end of last week – the settlement could be invoked immediately
In the Mail sector is already over capacity and financially very fragile situation. MoryGlobal of which was placed in receivership on 10 February, was without much hope. The carrier has suffered in 2014 a net loss of € 43 million.
The situation is even more critical that the state already called to the rescue in late 2013, is no longer decided to return financially to his rescue. Although the Prime Minister, Manuel Valls, assured Tuesday morning on BFM TV-RMC, as the government tries to “find a solution” .
Read also: MoryGlobal: combat fatality
“We will make social treatment organize a redeployment unit …” , is prevented in government. MoryGlobal assets, valued at approximately € 50 million, should be absorbed to finance the social plan.
A precedent already heavy social
Start 2014, after the collapse of Mory Ducros, former number two in the mail in France, it is indeed state intervention that contributed to the creation of MoryGlobal, the fund Arcole Industries has decided to resume activity .
This revival was made, however, at the cost of 2,800 job cuts (over 5000) and the closure of 35 branches of 85. This remains one of the most extensive plans Social Holland era.
In February 2014, Arnaud Montebourg, Minister of productive recovery, had agreed to pay a loan of € 17.5 million to the company through Economic and Social Development Fund.
Since autumn 2014, MoryGlobal, which was followed by the Interministerial Committee for Industrial Restructuring, benefited, from the state, a freeze on social and tax debts. “Without that and factoring, the company has already closed” , provides a source.
Results continued to dive
What has happened since? While the messaging market stopped his fall last year, has seen its results MoryGlobal dive, while its competitors (Geodis, Schenker, Kuehne + Nagel, Dachser and Gefco Heppner) saw their results improve.
“We were in full recovery, gaining new customers, refutes Steward . We are viable! “” With a number of legal proceedings and a development strategy misunderstood by customers, MoryGlobal sowed doubt, does indicate an industry expert. His loyal customers have increasingly decided to diversify their risks and to work with competitors, depriving it of the volumes. “
” The recovery was so random that MoryGlobal kept only the least reliable customers, those who pay the least, that pull prices down “, also points out a record of the connoisseur.
Shareholder and unions the buck
At MoryGlobal, unions and Arcola blame each degradation situation. Eric Martin, elected CFTC MoryGlobal, “the only culprit of this disaster is Arcola.” What is confirmed in FP, other union represented at the works council.
However, a specialist ensures the file, “Arcola had the job since filing balance sheet. But the company has failed to grow as expected. “ In fact, the turnaround funds reinvested € 17.5 million in the carrier, as he had promised to the state.
Arcola, rather it is the unions that are responsible for the company’s collapse. In February 2014, elected CFDT Mory Ducros, then first union of the carrier, refused to sign the company agreement to implement social, as they had pledged to do so. Without this signature, MoryGlobal had to return in the summer of 2014 some 200 employees protected. To Arcola, this had a “huge financial impact” .
The Fund also indirectly takes the Commercial Court of Pontoise, which had allowed to resume Mory Ducros. This court did not sell three buildings, “empty and not necessary for the operation of MoryGlobal” , he said. The sale of these assets could bring € 25 million, which would have to extend the operation of the business, estimates the funds managed by André Lebrun.
“If Arcola n ‘ has not been able to sell these assets, it is because he withdrew € 7.5 million on € 17.5 million he paid to the company, refutes Steward of the company. The court authorized to sell these assets he restored before this sum … “
A boon for competitors
One thing is certain: for competitors to MoryGlobal, the disappearance of a player in the sector will be a godsend. “They have already benefited from deferral of revenues dropped by Mory Ducros to recover. The decision should further improve their lot “, provides expert.
It is about 250 to 300 million euros of activity that the company’s competitors would thus share, the disappearance of MoryGlobal to also help boost prices.
In this context, the MoryGlobal subcontractors, representing about 1,000 employees could expect to keep in business with other companies sector recover clients.
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