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Blade firm seeks creditor protection
1 December 1996
Blade manufacturer ATV-Composites filed for protection from its creditors in early November and has obtained a moratorium on some of its debts from the commercial bankruptcy court. According to ATV's Thierry Marechal, the company's financial difficulties are due to a general slow down in business for blades, but also because the company is owed FFR 10 million. ATV, founded by Marechal in 1988, has a turnover of FFR 34 million and employs 60 at its premises in Fuveau near Marseilles and in Douai. It has sold over 1700 blades, mostly abroad.
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