Remade: 211 jobs cut out of 328

by bold-lichterman

The Rouen Commercial Court validated on Thursday an offer to take back Remade (refurbished smartphones) which involves the elimination of 211 jobs out of 328.

The court ordered the ” total disposal of assets’ from Remade SAS and Remade Group to the British company Forth Wave Technology, created in 2019 by Suresh Radhakrishnan, and authorizes the dismissal of 211 people, according to the two judgments concerning these two companies.

The Briton puts 3.3 million euros on the table

The Remade group, based in Poilley (Manche), near Mont-Saint-Michel, and launched in 2014, had reached a workforce of 680 people in 2019 before being placed with its subsidiaries in receivership at the end of September. Two offers had been considered by the court during a hearing on January 9. That of its former CEO and founder Matthieu Millet, who proposed for 1.3 million euros to take over 142 employees, is therefore rejected.

The parquet has ” expressed serious doubts about the sustainability criterion and about the legal admissibility problems of this offer ”, according to the court. The Social and Economic Committee (CSE) had issued a favorable opinion, despite some reservations, to the offer of the Briton validated by the court, according to the lawyer of the CSE Thomas Hollande who did not wish to mention the offer of M.Millet. The latter has in the past been banned from managing several other businesses.

Following a “Report of a receiver”, Remade is also the subject of a preliminary investigation carried out by the Rennes prosecutor’s office for false balance sheet and false invoices. A group of equity investors in Remade has filed a complaint.