After months of financial turmoil, AC Ajaccio have filed for bankruptcy, losing their professional status for the first time in 27 years, YahooSports.com reported. According to Corse-Matin, the Corsican club submitted their declaration of insolvency on Monday at the Ajaccio commercial court. The decision comes after the board failed to attract investors or cover an estimated €13m deficit. The move will result in the loss of around 180 jobs and the closure of the club’s training centre, which was named the best in Ligue 2 as recently as May. Ajaccio’s immediate future remains unclear.
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Inflation stayed steady in France, likely keeping the European Central Bank cautious over any further cuts to interest rates ahead, the Wall Street Journal reported. Consumer prices rose 0.9% on year this month, according to EU-harmonized figures set out Thursday by the French statistics authority. That was the same rate of annual inflation as booked in June. Energy prices fell on year after a surge in July last year, while food inflation picked up a little pace, the figures showed.
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Le Coq Sportif, in receivership, has been acquired by a group led by Franco-Swiss entrepreneur Dan Mamane, SGB Media reported. The new investors have committed to investing an initial €70 million (US$82.1 million) into the company to revive its growth. Le Coq Sportif has been owned since 2005 by Marc-Henri Beausire’s Swiss group Airesis. Mamane’s consortium is backed by the Mirabaud Patrimoine Vivant investment fund, which had previously taken a minority stake in Le Coq Sportif.
French uranium miner Orano said on Wednesday its majority-owned joint venture with Niger, SOMAIR, is on the verge of bankruptcy as a result of export restrictions imposed by Niger's military government, Reuters reported. Orano was forced to suspend production at SOMAIR after authorities halted exports last year.
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French heart prosthesis company Carmat has filed for insolvency and requested to be placed in receivership after failing to secure emergency funding, it said on Monday, Reuters reported. Trading in Carmat shares have been suspended at the company's request, it said, pending a decision by the the Versailles Economic Affairs Court. Carmat, which had warned earlier this month that it could run out of cash by end-June without fresh financing, said it had not managed to raise the 3.5 million euros ($4.1 million) it needed and had submitted the filing to the court.
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Conflict in the Middle East has pushed inflation higher for the first time in 2025 and weakened confidence in the eurozone, according to data released Friday, the Wall Street Journal reported. Consumer prices were 0.8% higher in France and 2.2% higher in Spain in June than a year earlier compared with 0.6% and 2% in May, respectively, according to European Union harmonized data.
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French heart prosthesis company Carmat is in a critical financial situation and will be at risk of insolvency by the end of this month, it said in a statement on Friday, Reuters reported. Carmat needs 3.5 million euros ($4.04 million) to avoid insolvency by the end of June, it said. It said that it is actively exploring financing options and is launching a campaign seeking donations through an online platform.
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French private sector activity contracted further in June, as weakness in both the manufacturing and services sectors hit the euro zone's second-biggest economy, S&P Global said on Monday, Reuters reported. The flash PMI for France's dominant services sector for June stood at 48.7 points, down from 48.9 points in May. The June flash manufacturing PMI came in at 47.8 points, down from 49.8 in May. The manufacturing sector was impacted by excess stocks among clients, challenging market conditions, and order postponements.
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In a dramatic twist emblematic of Europe’s telecom turbulence, Altice France SA, the country’s second-largest telecom provider, has filed for chapter 15 bankruptcy protection in New York, seeking U.S. court recognition of its French insolvency proceedings as it buckles under €19.2 billion ($22 billion) in debt, USA Herald reported.
The head of French carmarker Renault, Luca de Meo, is to quit "to take on new challenges outside the automobile sector,” the company said on Sunday, BSS News reported. "After five years leading Renault Group, Luca de Meo has announced his decision to leave his position," said a company statement, adding that his departure would take effect on July 15. According to Le Figaro newspaper, de Meo will become the new chief executive of French luxury group Kering, owner of Gucci, Yves Saint-Laurent, Balenciaga and other premium brands.