The number of French business bankruptcies hit a record in the third quarter of 2013 and the yearly total is on a pace that will come close to the total reached in the dark days of the great financial collapse in 2009.
Via translation here are a few articles from Le Monde.
Corporate Liquidations Reaching New Heights in France
The newspaper L'Autre Journal has filed for bankruptcy.
Michel Butel, the former boss of the newspaper does not admit defeat so far, and promises new adventures. But under another name ...
In the last twelve months, 43,981 companies were liquidated after having filed for bankruptcy, according to the records of the credit insurer Coface. This is a record number of third quarter bankruptcies.
With 5,200 jobs at stake, the bankruptcy of transport company Mory Ducros is in social terms the heaviest recorded bankruptcy this year. The previous failure of this magnitude was Neo Security, the second largest French security firm, which was declared insolvent in April 2012. At the time, it employed him as more than 5,000 people.
Some 62,500 company s should file for bankruptcy this year, almost as much as during the dark year of 2009, according to credit insurer Coface. The number of bankruptcies may be slightly lower in 2014.
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