“The plan to exit legal receivership is now obsolete. As it stands, the Cahors Commercial Court should have no other option but to pronounce, on April 15, 2024, the liquidation of our cooperative,” Railcop indicated in a message to its members.
Founded in 2019, the cooperative with 14,500 members aims to launch a transverse rail link between Bordeaux and Lyon via Perigueux, Limoges, Montlucon and Roanne. Initially planned for the summer of 2022, the launch has been delayed several times, and is still most recently considered the second half of 2024.
It sought to raise an additional 500,000 euros from its members to pay its suppliers’ salaries and invoices throughout the summer of 2023. But at the end of September, it had collected only 383,500 euros, forcing it to open a collective action before the Commercial Court, given the lack of funds.
Legal redress
Railcoop was placed into receivership in mid-October, starting a six-month period to find capital to guarantee its continued operation.
The cooperative specifically planned to sell two trainsets – bought second-hand from the Auvergne-Rhone-Alpes region -, which are stored by the company ACCM, which specializes in the restoration of railway equipment, at its Clermont-Ferrand site, she explained. on Wednesday.
But ACC M “claimed 880,000 euros from us in garage costs, in addition to 350,000 euros paid to audit the trains (which were not completed),” Railcoop said. In this dispute, the Clermont-Ferrand Commercial Court has only ruled (…) on March 21 in favor of ACC M. , removing us from all sources of short-term financing and leaving us with new, unsustainable debt,” notes Railkop.
