Brief: Lucibel's Cordel Requests Opening Of Judicial Liquidation Procedure

Lucibel SA

10/01/2020 17:16

Jan 10 (Reuters) - LUCIBEL SA  ALUCI.PA :
    * CORDEL: REQUEST TO OPEN A JUDICIAL LIQUIDATION PROCEDURE
    * LUCIBEL GROUP WILL CONTINUE TO OPERATE IN THE RETAIL
MARKET
SEGMENT THROUGH ITS COMPANIES LORENZ LIGHT TECHNIC AND LUCIBEL
SA
    * LUCIBEL GROUP'S GROSS CASH POSITION (EXCLUDING CORDEL) AT
31/12/2019 WAS EUR 1.9 MILLION
    * EXIT FROM ACCOUNTING CONSOLIDATION SCOPE OF LUCIBEL GROUP
AS
SOON AS GROUP LOSES CONTROL OF IT, PRESUMABLY FROM DATE OF
JUDGMENT OPENING THE PROCEDURE, I.E. JAN 14, 2020
    * DESPITE A RESTRUCTURING PLAN INITIATED IN THE FIRST HALF
OF
2019, CORDEL'S GROSS OPERATING RESULT REMAINED NEGATIVE IN 2019

Source text: https://bit.ly/2T9SO7B
Further company coverage:  ALUCI.PA 

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