Klarsen: ITL Subsidiary Under Judicial Reorganization in Strasbourg
Klarsen has requested and obtained the initiation of a judicial reorganization procedure from the Strasbourg Judicial Court for its subsidiary ITL. This action is taken in the context of litigation against Padam and follows several announcements since April 20, 2026.
ITL Under Judicial Reorganization
The judicial reorganization procedure was initiated today at the Strasbourg Judicial Court (Commercial Chamber). It exclusively concerns ITL, a subsidiary of which Klarsen is the president. According to the statement, this procedure aims to establish the appropriate legal framework to allow ITL to continue its operations and prepare for its recovery under the best conditions.
Klarsen itself is not affected by this procedure and continues to implement its recovery plan established in 2020 by the Bordeaux Commercial Court. ITL is described as a leading player in the field of distance selling within the group.
Financial Support from the Main Shareholder
Klarsen's main shareholder has committed to supporting the structure. This commitment is part of a comprehensive financing arrangement currently being finalized, according to the statement.
Ongoing Legal Procedures and Operational Continuity
Klarsen has appealed the judgment previously communicated on April 20, 2026. Several procedural hearings are scheduled in the very short term, aiming in particular to obtain the lifting of the provisional execution. The group reminds that the outcome of the ongoing legal procedures is never certain and that, in the event the provisional execution of the judgment is maintained following the upcoming hearings, the short-term operational continuity of the group could be affected.
Klarsen commits to keeping the market informed of the decisions to be made as soon as they are pronounced.
