Mauritius Stationery Manufacturers Under Administration

10 years, 4 months ago - November 27, 2013

It is in the red for some time. And Tuesday 26 November, the Mauritius Stationery Manufacturers, facing financial difficulties, was placed under administration. Gerald Lincoln, the office accountant EY, was appointed director with immediate effect.

It could not turn things around. The Mauritius Stationery Manufacturers (MSM), which faces financial difficulties, was placed under administration. The decision was taken by the Board of Directors of the company on Tuesday November 26.

" We decided to place the company under administration because of the difficult financial situation. This was not an easy decision. Despite all the efforts made by the management team of MSM and all employees, the board came to the conclusion that it was the best solution , "said Laurent de la Hogue, president of the Board of MSM. Gerald Lincoln, the office accountant Ernst & Young was appointed director with immediate effect.

" Today, MSM has lost its competitiveness and fails to find the sales volume required to cover the cost of its operations and its financial commitments. Recent actions to enable the company to continue to operate confidently, as the sale of the cardboard activity continued support of banks and shareholders failed to afford redress the MSM , "says Laurent de la Hogue. He added: " We hope that the administrator quickly find a solution for MSM and its employees. "

Text by lexpress.mu

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