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COVID-19 impact: French supplier Novares goes into temporary receivership

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COVID-19

Novares expects to reach a solution before the end of receivership period on 28 May

Novares went into temporary receivership at the end of April, according to a report by Reuters on 11 May. The French automotive supplier sought protection from its creditors after its sales dropped sharply due to the COVID-19 pandemic and the company struggled to reach agreement with its bank and shareholders to solve cash crunch.

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