Presstalis is in suspension of payments. The distributor, which handles 75% of press distribution in France, filed for protection with the Paris Commercial Court last Monday. Legal redress or liquidation?? The group, which employs 900 people, will be decided on its fate after the court hearing on May 12. Until then, daily newspapers and magazines should continue to be delivered to newsagents and newsstands.
But what does the future hold for this important link in the presse? chain? There are many problems.
Despite a recovery plan in 2018 500 to 600 million euros, according to the company's financial statements Le Figaro . Newspaper and newsstand vendors are waiting for payment, about 17 million euros, as are publishers for 135 million euros, according to the Syndicat de l'Association des éditeurs de presse (SAEP).
In addition, for years, magazines and daily newspapers have been tearing each other apart over the organisation of press distribution in France.
Presstalis is currently organized in two publishing cooperatives, one of national dailies, which holds 27% of the group's capital, and the other of magazines, which holds 73%.
Presstalis would like to maintain a structure that would distribute daily newspapers and magazines, a choice supported by the daily newspapers cooperative, while the Coopérative de distribution des magazines (CDM) and Messageries lyonnaises de presse (MLP), Presstalis' competitor, argue in favour of a separation of the two types of press.
The president of Presstalis, Cédric Dugardin, who has been at the head of the group since last February, said in a message to his employees consulted by AFP that this bankruptcy filing should make it possible to "to expedite discussions, bringing a sense of urgency to all stakeholders." .
