Paris—Jan 28, 2019
Ymagis Announces the Restructuring of French Subsidiary Eclair Cinema SAS
The Employment Protection Plan (PSE) for Eclair Cinema SAS, which oversees Eclair’s post-production and restoration activities in France, approved by DIRECCTE and authorised by the official receiver
Ymagis Group
(FR0011471291, MAGIS, PEA-PME, TECH 40), the European specialist in digital technologies
for the film industry, announced the implementation
of the Employment Protection Plan for Eclair Cinema SAS following its approval
by the regional labour authority (DIRECCTE) and validation by the official
receiver. This decision follows the placement in receivership of the French subsidiary
Eclair Cinema SAS last November. For information, Eclair Cinema SAS represented
5.5% of Ymagis Group’s revenue for the first half of 2018 and almost all losses
recorded over this same period.
The plan involves the closure of post-production activities in
France and a reduction of the number of employees working on restoration
activities. The Employment Protection Plan concerns 38 employees, the cost of
the redundancies being financed by the AGS (French wage guarantee scheme). Eclair
Cinema SAS will pursue its restoration activities and is working on ending the receivership
through a continuation plan. All restoration projects in progress will continue
to be executed in accordance with the agreements signed with the customers.
Eclair has also ensured that all films in post-production with Eclair Cinema
have been finalised or entrusted to other service providers, in agreement with
the customers concerned.
In
parallel with the reorganization of Eclair Cinema’s activities, Eclair will
henceforth focus its efforts and investments on the development of its
adaptation activities (subtitling, dubbing), digital distribution, preservation
and content delivery to cinemas. In doing so, Eclair is actively pursuing the
digitalisation of its services with its strategy involving the development and
operation of cloud-based platforms.
