Furniture: P3G Participations takes up the Parisot company

The Dijon Commercial Court accepted the takeover offer of the Parisot SAS furniture manufacturer on Friday, in receivership, by the company P3G Participations which provides for the maintenance of 345 posts out of 460, said the management of the buyer.

To read alsojean-Charles Parisot takes over the family group via P3G Industries

"French leader in the manufacturing of furniture in kit", Parisot SAS was founded in 1936 by Jacques Parisot, the grandfather of the former president of Medef, Laurence Parisot.

The court considered that this offer of resumption of transfer plan represented "a solution of balance and sustainability for the company," said in a press release addressed to AFP the company P3G Participations, of which Parisot SAS is a subsidiary.

"Single and only takeover offer for Parisot SAS, placed in receivership since June 2019, the project plans to guarantee the continuity of activity and the conservation of 345 posts (76% of the workforce)" out of the 460 thatParisot SAS account in Saint-Loup-sur-Semouse (Haute-Saône), she said.

"At the same time, P3G Participations guarantees 64 reclassification positions within its group, on the sites of CFP (French Panel Company) and CFP2, and is committed to the creation of 14 posts," added the buyer.

The offer carried by Jean-Charles Parisot, president of P3G Participations which had committed to the beginning of the procedure to "find an external or internal solution", was supported by elected officials and staff representatives.

To read losses: P3G Participations presents a takeover offer from Parisot

"Unfortunately there will be layoffs, but there are a lot of voluntary departures because there are people close to retirement," said the CGT delegate of the Saint-Loup-sur-Semouse site, Philippe Brochère, during the'Examination of the plan by the court.

P3G Participations is the second French producer of particle board by size.It also holds P3G Industries, an entity which is however not concerned by the recovery procedure.