Atalian - comment

As long as Atalian has enough liquidity to get by, we expect management to hold out, but a potential sale to a competitor (even if highly tentative at present) is a positive for creditors. Whether a strategic buyer would add enough to the multiples to bail out creditors and give the Julian family some cash is debatable. The article mentions an amend and extend operation as a possibility, but why would creditors agree unless they end up in control? Atalian’s French cleaning operations have been hurt by the inability to pass on higher wages (negotiated at the union level) to clients. There hasn’t been a lot of evidence that the operating environment in France is changing.

https://www.lemonde.fr/economie/article/2025/12/03/trop-endette-atalian-geant-francais-de-la-proprete-etudie-une-cession_6655808_3234.html (subscription needed)