Wine Paris, Vinexpo and Sitevi trade fairs not part of Comexposium safeguard plan

Thursday October 01 2020 by Vitisphere

“Contacts and exchanges between people cement business and I remain convinced that face-to-face relationships will always be a business facilitator for our communities”, said Renaud Hamaide, chairman of Comexposium, in a statement.“Contacts and exchanges between people cement business and I remain convinced that face-to-face relationships will always be a business facilitator for our communities”, said Renaud Hamaide, chairman of Comexposium, in a statement. - Photo credit : Comexposium

On 22 September, the Comexposium group and its exhibition subsidiaries “decided to place themselves under the protection of the Nanterre Commercial Court and to request the opening of safeguard proceedings”, announced a press release issued by the Paris-based group, which is owned by the Ile de France Chamber of Commerce and Crédit Agricole insurances. Posting turnover of €440 million in 2019, the exhibition organiser is forecasting an 80% reduction in its business to €80 million in 2020. “Due to the health crisis, Comexposium has had to cope with a ban on its business for more than six months. These bans have now led the group to adapt its financing to take into account the very low level of business and lack of visibility for the future”, adds the press release. The company organises 135 trade fairs worldwide, including well-known wine industry events.

The recently created Vinexposium group, a 50/50 subsidiary jointly owned by Comexposium and Vinexpo, is not affected by the safeguard procedure. “Our subsidiary does not fall within the scope of the plan. We have the good aspects of both groups, and not the bad ones at the moment”, a Vinexposium employee commented to Vitisphere. The Wine Paris & Vinexpo Paris trade shows, World Bulk Wine Exhibition and Vinexpo tour (Bordeaux, Hong Kong, New York, Shanghai...) are not affected by the procedure. Neither is the technical exhibition Sitevi, which is not part of Vinexposium, but is also not affected by the safeguard measure.

 

 

 

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