By using this procedure, the Machefert group aims to restructure its debt vis-à-vis its main creditor.
In a press release released on Thursday, the Machefert group announces that it has requested and obtained the opening of a safeguard procedure. “The family-owned and independent Machefert Group, created in 1992, has been evolving in a difficult economic context for the past 5 years due to the many unfavorable events that have marked the tourism industry in France and Paris (disintermediation of hotel distribution, terrorist attacks 2015, 2016 attacks, yellow vests, strikes, Covid health crisis and finally war in Ukraine), lists the hotel group led by Kevin Machefert. “In the second half of 2021, Colony Capital sold the debt it holds towards the Machefert Group in favor of the Californian fund Fortress Credit Advisors LLC, hedge fund, continues the document. Following this assignment,
In order to renegotiate the conditions for restructuring its debt to its main creditor, the Machefert Group therefore requested and obtained on March 28 the opening of a safeguard procedure. “This protection conferred by the law in no way affects the proper conduct of the Machefert Group’s operations”, emphasizes the hotel group, which also indicates that “this procedure will indeed enable the Group to perpetuate its activity, to recreate profitability on its operations during a period of convalescence, while preserving its jobs. »
Founded in 1992 under the name Les Hôtels de Paris, the Machefert group consists of 19 hotels, 7 bars and 5 restaurants in Paris as well as a 5* resort in Saint-Tropez (Le Kube) and a resort in Marrakech.
