Go Sport’s acquisition: employees say “why not” – Pour l’Eco magazine, June 2021
Worn out by constant leadership changes, French sporting goods retailer Go Sport is in a bad way. The many unknowns in the terms of its acquisition by real estate company Financière Immobilière Bordelaise and the uncertainty of its continued operation are raising concern among employees and trade unions.
[…] “Their opinion is non-binding. Therefore, a negative opinion would not invalidate the sale. But it could scare the buyer into pulling back its offer to avoid future conflicts. And that is definitely not what the seller wants. The seller and the buyer have a common interest in shining a positive light on the proposed takeover”, Lionel Lesur explained […]
[…] “In reaching a decision, the commercial court will consider whether or not the buyer’s offer ensures the continuation of the business and maintains employment, and whether or not employees and their representatives support it”, Arnaud Pédron added.
[…] Promises to maintain employment over a period of time or provide training are binding only if they are written into the acquisition agreement”, Lionel Lesur warned. […]