Presstalis, the company that distributes newspapers and magazines, filed for bankruptcy in late April. The Paris Commercial Court has validated the offer of the daily newspapers' cooperative for the takeover of Presstalis, which becomes France Messagerie, said the buyer on Wednesday. "The priority of France Messagerie, with more than 250 employees, is now to build relationships of trust, transparent and lasting, with all the players in the sector," said Louis Dreyfus, Chairman of the Management Board of the World and cooperative of daily newspapers, in a press release.
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Burdened with debts, the main press distributor in France had avoided closure in mid-May but had seen its subsidiaries in liquidated regions, with more than 500 employees in the hot seat. Long negotiations with magazines, majority shareholders of Presstalis, had failed. The daily newspapers ended up submitting a unique offer, with the support of a few magazine groups, and broad support from the State.
"France Messagerie will have to work tirelessly to perpetuate its economic model"
"The cessation of payment of Presstalis has left many publishers in a fragile situation, has impoverished the network of broadcasters and has damaged the corporate body after the necessary staff reductions and the liquidation of certain group entities", continues Louis Dreyfus . "From tomorrow, France Messagerie will have to work tirelessly to perpetuate its economic model and offer publishers a quality service while guaranteeing publishers their financial flows".
The bankruptcy of Presstalis has also caused major distribution difficulties in several French regions. No agreement has yet been reached in Marseille to resume distribution of the newspapers. "With the trade union organizations, France Messagerie will continue the ongoing discussions in order to remove the last blockages and allow the press to be distributed throughout the country and for the broadcasters to be supplied again daily," said Louis Dreyfus.