French parcels and freight firm MoryGlobal (formerly called Mory Ducros) was legally liquidated on
March 31 and will stop trading on April 30, with 2,150 employees losing their jobs.
Last month, MoryGlobal requested legal liquidation by the Commercial Court of Bobigny as it
failed to attract any satisfactory takeover bid after being placed under judicial administration in
February and given six months to find a new investor.
Even the best bid submitted by Transport Malherbe which included the preservation of 141
jobs was withdrawn at the end of last week so that the liquidation could be pronounced immediately.
According to French media reports, some of MoryGlobal’s depots were occupied by employees to
support their redundancy claims. The insolvency administrator now needs to conduct consultations
with the trade unions over the redundancy terms for the MoryGlobal employees.
French Prime Minister Manuel Valls told the TV channel BFM TV-RMC on Tuesday that a social
plan will be implemented to ensure occupational rehabilitation of MoryGlobal staff. The social plan
would be financed by company assets worth about €50 million.
On Wednesday, François Rebsamen, French Minister of Social Affairs, promised an ‘exceptional
measure’ to support MoryGlobal’s dismissed employees. “The state cannot be indifferent to their
situation. Under the new contracts for job security, they will get 92 per cent of their former
salary for one year,” he said.
Employees will also get assistance until they find a new job, as well as an additional
payment from the state if they find a job where they earn less than previously with MoryGlobal.
This ‘compensation’ can amount up to €300 per month, in line with what is stipulated by the law.
In November 2013, Mory Ducros requested the opening of insolvency proceedings by the
Commercial Court of Pontoise and was placed under judicial administration by the court for a period
of six months before being taken over by Arcole Industries in February 2014.
The final ‘rescue bid’ by Arcole Industries which included major restructuring measures and
a state loan worth €17.5 million helped save 2,200 of the 5,000 jobs at Mory Ducros and 50 out of
the 85 branches at the parcels and freight company, with some 3,000 workers losing their jobs.
The firm was later re-branded as ‘MoryGlobal’ but made net losses of €40 million in 2014.
Mory Ducros was created with the merger of the two loss-making express parcel firms Ducros and Mory
at the end of 2012.
