French parcel delivery company, Sernam, goes into receivership as it looks for a buyer
The Commercial Court of Nanterre has put Sernam Services Company into receivership with an observation period fixed at 6 months.
The receivership, at the request of Sernam, will enable the company to carry on its activities in a secure legal framework. Sernam will continue to take care, to sort out, to transport and to deliver its customers' shipments in France and in Europe with the usual service quality.
Sernam's future now lies on industrial backing. Since November 2011, the company and its shareholder, Butler Capital Partners (BCP), have been looking for potential buyers. The management of Sernam has informed its customers that "several potential buyers, French and foreign ones, are interested in taking over Sernam. With two of them, negotiations are already in an advanced stage".
Despite an unfavourable economic environment, Sernam has major advantages. With more than 13,000 customers, Sernam has shown again in 2011 its ability to innovate. It pursued its business development strategy by acquiring new major customers, particularly in the fields of e-commerce, health and ensured its international development.