Franklin advises Imprimerie Mordacq as it emerges from receivership
On 19 September 2024, the Commercial Court of Boulogne-sur-Mer approved the continuation plan for Imprimerie Mordacq, based on classes of affected parts. This decision means that a hundred-year-old printing works based in Aire-sur-la-Lys can be saved and 80 employees maintained.
Thanks to the support of its customers, the majority of its suppliers, the French government, its banks and lenders, who voted massively in favour of the plan, Imprimerie Mordacq will be able to continue its business and face the challenges of its profession.
The last French printing works to have carried out a major 10 million investment plan in 2019, with the installation of two new machines, the company has had to cope with a significant rise in the price of its energy over the period 2022/2023 (budget multiplied by 5, up to 15% of its turnover) and the drop in volumes experienced by the entire graphics industry.
In seven months of proceedings, Imprimerie Mordacq implemented several restructuring measures to optimise its industrial and commercial organisation, demonstrating its ability to achieve a level of profitability.
This procedure could not have been a success without the daily commitment of the 80 employees of the family business, the support of its suppliers and the loyalty of its customers.
Backed by the support of its creditors, all the bodies involved in the proceedings, the Commercial Court and the favourable opinion of the employee representatives and the Public Prosecutor’s Office, Imprimerie Mordacq has emerged stronger from its receivership proceedings and will face the future with its passion for its business intact.
Imprimerie Mordacq is advised by Franklin with Numa Rengot, partner, Pierre Dupuys, Of Counsel, Margaux Chaumien and Marouan Fawzi, associates.
Imprimerie Mordacq was also advised on the financial aspects by SLIGEC (Francis Druon, Juliette Lutyn), Grant Thornton (Clotilde Delemazure, Antoine de Chomereau, Frédéric Pena) and Pansard & Associés (François Delbecq, François Crequy).
BMA (Maître Laurent Miquel, Damien Thomas) acted as insolvency administrator.
Ruffin Mandataires et Associés (Maître Marion Ruffin, Amélie Chapelet) acted as receiver.
