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Sequana has denied allegations made by lawyers representing employees at Arjowiggins’ Papiers Couchés and Le Bourray operations that accused the group of moving around €20m (£17.3m) illicitly.

A number of French news outlets have reported on the contents of the letter sent by the lawyers to Sequana chief executive Pascal Lebard on 8 April.
It called into question the management of the Arjowiggins case, which on 29 March resulted in the liquidation of the Papiers Couchés site in Bessé-sur-Braye, with the loss of 568 jobs, and the partial recovery of the Bourray site in Saint-Mars-la-Brière, which is thought to have retained 112 out of 270 staff.

Emballages reported yesterday that the letter stated that “movements of funds” of approximately €20m (£17.3m) occurred “between the date of cessation payments of the two companies and the opening of insolvency proceedings in their regard, for the benefit of Antalis and the Arjowiggins Sourcing company”.

On 21 March Sequana’s safeguarding procedure was converted into a bankruptcy filing that is due to be heard by the Commercial Court of Nanterre on 18
May.