NEW STEP IN JUDICIAL REORGANISATION PROCEEDINGS OF ORCHESTRA-PREMAMAN
In a difficult market context, the Brussels "Tribunal de l'Entreprise
francophone de Bruxelles" opened a judicial reorganization procedure by
collective agreement ("Procédure de réorganisation judiciaire par un accord
collectif") on October 23, 2019 for the benefit of the company Orchestra-
Prémaman Belgium SA. In this context, accompanying measures have been agreed
with the social partners, the implementation of which has been performed since
early January 2020.
On January 14, 2020, the Management of Orchestra-Prémaman Belgium SA announced
to the works council its intention to proceed shortly with the filing of a
request for a judicial reorganization procedure by judicial transfer
("Procédure de réorganisation judiciaire par transfert sous autorité de
justice") in order to ensure the future of the Group's business in Belgium.
The objective of the Orchestra-Prémaman Group is to maintain 19 points of sale
in Belgium, out of a total of 53 before restructuring, and more than 200 jobs.
In this context, points of sale which could not be operated by the Group
Orchestra-Prémaman may be subject to takeover by another economic operator.
The structure of the head office will be adjusted to match the new
2019/2020 fourth quarter Revenue: April 14th, 2020 after SE closing
A public limited company with capital of EUR12,159,825 Headquarter: 200 avenue
des Tamaris, Zac Saint Antoine, 34130 Saint-Aunès. Registration
n°: 398 471 565 in the Montpellier Trade and Companies Register