France’s second largest courier company, Mory Ducros, has filed for bankruptcy in a move which Union officials say threatens up to 7,000 jobs.
It is the largest bankruptcy in over ten years and one of the biggest in the country’s history. The two firms Mory and Ducros merged at the start of the year.
“The situation is catastrophic and job losses will be inevitable. It will be a slaughter,” commented one union official.
Corporate bankruptcies have reached an historical high in France this year according to credit insurer Coface, up by around two thousand in the last year.