Klubb exits insolvency procedure

France-based Klubb Group has exited its Judicial Rehabilitation Proceedings - a court-supervised insolvency procedure for companies experiencing difficulties, which has led to 90 redundancies and a leaner and resilient company.

in February, the specialized Commercial Court of Bobigny ordered the opening of the judicial rehabilitation proceedings, at the request of Klubb, to carry out a financial restructuring of the group and its subsidiaries Klubb France, Klubb Sarl and Klubb Engineering.

Image: Klubb Group.

It resulted in a reorganisation plan, which was approved by creditors and shareholders in July, allowing it to be presented to the Commercial Court.

Back in February, the company said, “This comes at a pivotal stage in Klubb’s development, as the company is currently benefiting from an unprecedented order backlog and strong commercial momentum, both in France and internationally.

“However, following several years of inflation, shifting demand patterns, and significant tensions across industrial supply chains, reorganization measures – already underway and continuing – have proved necessary to support its growth.”

New phase of development 

Following the court’s final approval of the plan on 31 July, Klubb said the company was entering a new phase of development, built on a healthy financial structure with the renewed support of its majority shareholder.

Julien Bourrellis, president of Klubb Group, said, “After a challenging 18 months for everyone at Klubb Group, we emerge leaner, more resilient, and fully focused on sustainable growth.

“Today we are exiting judicial rehabilitation proceedings; our primary focus is operational excellence and restoring strict delivery reliability for our clients.

“This reorganisation has preserved 550 jobs within the group. Regrettably, it also involved parting ways with 90 colleagues and closing one factory - a difficult transition for our teams.”

Bourrellis added that the company’s ambitions are to become the global leader in truck mounted aerial platforms within five years and a recognised European provider of recovery trucks through Italy-based Isoli and aircraft refuelling trucks through the company’s Titan brand in Aix and Lyon, France.

For aerial platforms, the company’s European subsidiaries CPL in the UK, Mondia in Belgium, Hematec in Germany, Isoli in Italy, and Klubb France will continue their operations.

“I would like to thank our customers, who have suffered from delivery delays over the past two years, for their patience and support; our suppliers, who have been with us for 25 years; and above all, our 550 employees, who managed to hold fast during the storm,” said Bourrellis. “Klubb is back, fully aligned, and ready to lead.”