French electrolyser maker McPhy has launched a formal sales process as it seeks to secure a future for the company amid concerns it could run out of cash by June.
The company today (April 14) confirmed that the Commercial Court of Belfort opened a conciliation procedure on April 10, appointing Maître Joanna Rousselet of SCP Abitbol & Rousselet as conciliator.
Conciliation is a French pre-insolvency process that allows struggling firms to negotiate with creditors and seek fresh investment, under the supervision of a court-appointed mediator.
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