The scenario of a takeover of Smag Graphique by an industrial third party is no longer on the table. At the end of a hearing held last week at the Evry Commercial Court, the continuation plan presented by the head of the manufacturer of printing and finishing machines for labels and flexible packaging was validated. The news was announced by Stéphane Rateau himself, via a post on LinkedIn, in which he emphasized the favorable opinion of all the legal bodies concerned.
This validation marks a turning point in the receivership proceedings opened on March 3. By ruling out the option of a divestitures - in particular the one planned by Codimag - the commercial court gives Smag a chance to continue its business in a stabilized framework, under judicial supervision for another six months.
During the first two months of the proceedings, the Essonne-based manufacturer posted positive operating results, which its chairman described as promising. This momentum undoubtedly weighed in the court's decision.
The continuation of the observation period will enable Smag to confirm its economic trajectory. A further review is scheduled in six months' time, to take stock of the situation and, if necessary, initiate an effective exit from receivership. Validation of the continuation plan opens up the possibility of spreading the debt over a period of up to ten years, as provided for in the French Commercial Code.
For the time being, Smag Graphique retains its autonomy and continues its efforts to restore profitability. Stéphane Rateau says he can count on the loyalty of customers and suppliers, whom he thanks for their support during this critical period.
