French Industrial Supplier Otima Nears Takeover Amid COVID-19 Struggles

The hearing was attended by the three potential buyers of the company. On this occasion, their files were examined.

The health crisis related to the coronavirus has had a negative impact on Otima, which was already in a "continuation plan" after being placed in receivership in April 2019, reports Ouest France. Its main customers Alstom, Schneider Electric and Thalès are no longer placing orders.

Faced with the situation, the Rennes Commercial Court placed the company in receivership. Three files from potential buyers were received at the end of July. The company was placed in judicial liquidation on August 26. Otima has 173 employees on the Aumaillerie site in Fougères and about thirty in its subsidiary in Morocco.

The decision of the Rennes Commercial Court is expected on September 9.