Rousselle Industrie SA, a maker of machinery for paint manufacturers in northern France, almost collapsed in 2020 after the pandemic disrupted supply and its clients businesses.
The 10-person company was saved by the equivalent of $360,000 in loans under a government program that guaranteed debt and deferred interest payments for 12 months.
One year later, the company is still facing repeated delays in supplies and payments, making the prospect of servicing the debt difficult. Aware of the troubles facing Rousselle Industrie and hundreds of thousands of other companies, the French government delayed loan repayments by one more year.
We would not have survived this complicated phase without the governments help, Eric Plaisant, the compan…
Read the full article at: https://www.wsj.com/articles/europe-keeps-aiding-companies-to-avoid-surge-of-covid-19-insolvencies-11623576603
