Comexposium decides to put some of its companies under a safeguarding procedure
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Pianeta Impresa news. Turin, September 23, 2020 – For over a century, Comexposium has been a leading professional and public events organiser in France and around the world. Annually, it organises some of the largest, and most well-known, events in France such as SIAL, SIMA, Foire de Paris and the l’Étudiant events.
However, the COVID-19 pandemic, and the restrictions it has caused, have prevented Comexposium from being able to play its role, organising events, for over six months. For many months the events sector has seen very little activity, and, as of now, there is uncertainty around when events will fully restart in France and abroad. Therefore, it has become necessary for Comexposium to adapt its financing.
Three holding companies of the Group and Comexposium SAS have decided to enter into a “procédure de sauvegarde” with the Commercial Court of Nanterre. This is a decision regarding the management of the business. The procedure freezes the debt of the protected companies, allowing for a reorganization of liabilities and a grace period during this exceptional time.
Only the four companies mentioned are affected by this decision, and it has no impact on the ability of these companies, or any other Comexposium company, to conduct business. Moreover, this protection will enable the affected companies to be in a strong position to restart their normal level of operations, as soon as the pandemic situation allows.
Renaud Hamaide, Chairman of Comexposium, said, “This difficult period requires us to be agile and innovative. Meeting in person is the quickest and strongest way to build relationships. I strongly believe in the importance of face-to-face events, and I am confident events will come back. Further, it is clear that digital and multi-channelled approaches to creating connection are necessary, and we will continue to develop in this area. The future is being written now, and when this crisis is over, we want to be at the forefront of our industry in bringing people together.
https://www.comexposium.com
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