End of hope and the end of history. The hundred or employee (s) of the brand of clothing sales cheap Mim, who wanted to take their company workers’ cooperative society (SCOP) had to resolve to throw in the towel Thursday night, having failed to obtain effective financial support from the government. The deadline for this project was set at Scop Friday by the Commercial Court of Bobigny (Seine-Saint-Denis). Without recovery solution, the company placed in liquidation April 26, 2017, will now be sold to the cutting and its 750 dealers, vendors, and other licensed personnel.
The last act was played yesterday between 17 h 30 and 18 h 30 to Bercy, at a meeting held at the request of the office of the Minister of Economy, Bruno Le Maire. On the agenda, the request for funding from the state of this project taken up by some of the employees which were the only hope for continuation Mim. A month earlier, Christophe Sirugue, Secretary of State for Industry of the previous government had signed a letter in which he mentioned the possibility of a loan to the state of about 10 million.
With this proposal, some employees gathered around the human resources director, Mathieu Mesmay had then developed their Scop creation project to take 110 of the 145 shops and 500 750 employees. They had collected about one million euros in the form of using the Cooperative Association and direct contributions to a hundred employees Mim. Their provisional budget provided 61 million euros in sales the first year and 75 million in the second. The upturn in activity, however, was conditional on the crucial help of the state. The loan of 10 million was to be granted on account of the Economic and Social Development Fund (FDES) would have to reconstruct the cash needed for clothing stock and the payment of the first month’s salary.
Dropped by Bruno Le Maire
But the Economy Minister, Bruno Le Maire, nothing wanted to know what had promised Christophe Sirugue. “The EU rules prevent us from granting a loan above 50% of the amount needed for the project,” said substantially officials Bercy ex-employees Mim without bothering to propose other funding options. “We hit a wall,” recalls one of the four initiators of the Scop, Mathieu Mesmay, which tried unsuccessfully to convince his interlocutors, by calculating the impact on public finances of a resumption of activity Mim. “Based on our forecasts, we could generate 12 million VAT for public finances, the first year of operation, more than the loan the state, in any case, to be repaid.”
According to one of the experts who looked at the file, it seems that the arrival a little late to the proposal Scop and the change of government has played against the solution provided by the former employees. But in reality, many stakeholders in the discomfiture of Mim has noted the difference Whirlpool or Alstom, Mim is not a very well known brand, much less a strong industrial symbol. In addition, employees are scattered in 145 stores across the Hexagon, which avoided the outset the government the risk of a hard conflict and publicized like an industrial site such as that of GM & S in the Creuse, for example.
Better to go to 20 hours
The liquidation of Mim does not threaten either an entire sector, like the fraudulent bankruptcy in December, Financière Turenne, owner of food brands William Saurin, Garbit and Paul Prédault. In this case, where the western pig farmers in France were likely to recover quickly in difficulties, fireman State has released in a few days, a loan of 17 million euros. The 750 employee (s) Mim, who will be dismissed (s) in the general indifference, have learned that to be helped by the government, it is better to work for a company whose closure is likely to open of 20 days …