Move only 'temporary'

The Navimo Group, Europe’s largest marine equipment distributor and manufacturer, has been placed under temporary receivership for a period of six months.

Another hearing before the Commercial Court of Lorient, France, is scheduled to take place on July 27, 2012.

Erwan Merly at French administrator Ajire will act as receiver. Merly will assist Navimo CEO Albert Journo, who filed for bankruptcy proceedings last week, throughout the six-month period.

‘The Navimo management confirms its total and undivided attention to finding solutions and a positive outcome for the Navimo Group and its employees,’he said.
The five companies affected are the Navimo Group, Navimo Distribution, Plastimo Marine, Goïot and Moine. Companies outside France are not affected.