The court-appointed administrators supervising La Halle have set, in agreement with the company’s management, a June 9 deadline to present bids for the company or its assets. A Paris-based commercial court also placed the company into receivership to allow it to be sold piecemeal. Previously, La Halle had been placed under a “safeguard procedure” meaning it could only be sold or relaunched as a going concern.
La Halle, which is owned by the Vivarte group, had received seven offers to buy about 60 percent of its business. It was placed into safeguard procedure on April 21 to protect it from creditors, while its management sought a solution to save the company. But, Vivarte noted that in the light of the offers received it could not guarantee all jobs and the continuation of the entire business and that it would have to ask the court to place La Halle into receivership to be able to sell parts of the chain to different candidates.