Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Milee (formerly Adrexo) is facing the collapse of the market for indiscriminately addressed leaflets and catalogues in letterboxes. At an exceptional works council meeting, the group's 10,500 employees were told that the business would be closed on 19 August, and that a job protection plan (PSE) would be put in place for 3,500 distributors, drivers and managers working in the business. Of the 3,500 job cuts, half will affect senior distributors aged 70 and over (there are 2,700 in the company). Another thousand employees are affected by the closure of 76 Milee network branches. The remainder will involve 360 drivers at the Last Smile Partner subsidiary, which is specialised in parcel delivery. Lastly, around 200 management and support positions will be affected.
The redundancy plan provides for 700 outplacement posts and the negotiation of retraining leave, the details and amount of which are to be negotiated with the group's six trade unions.
Update 2/07/2024: The Marseille Commercial Court has approved the takeover of Milee's parcel business (formerly Audrexo) by Colis Privé. The sale of Milee's parcels business means that 301 of the 650 jobs in this division (including 272 delivery drivers) will be taken over.
Update 09/09/2024: Advertising leaflet distributor Millee has been placed into compulsory liquidation by the Marseille Commercial Court. In March, Milee's management had initially announced a restructuring plan involving the redundancy of 3,500 employees. However, the plan could not be implemented. According to management, ‘the losses could not be stemmed and the cash position was too weak at the end of the first quarter’. It was for these reasons that management applied for the company to be placed in receivership on 30 May. The 5,000 full-time and part-time employees still working for the company are being made redundant.
Eurofound (2024), Milee, Bankruptcy in France, factsheet number 201163, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/201163.
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