Mavic placed into receivership

French components and apparel brand seeking buyers having been placed under observation period by commercial court.

Along with tricolore bunting and fields of sunflowers, Mavic’s yellow neutral service vehicles are one of the enduring images of the Tour de France.

However, the French components and accessories brand has hit hard times and been placed into receivership at the French commercial court this week. Mavic has been under the management of a turnaround firm since February.

BRAIN reports that there are questions over the ownership of the 120-year-old company. While the Californian investment group Regent LP confirmed it had purchased Mavic in spring 2019, BRAIN has seen evidence that suggests Mavic is in fact owned by M Sports International LLC, a Delaware-registered company. It is believed that there is no financial connection between Regent and M Sports.

AFP has reported that Mavic is now under a six-month “observation period” by French courts, with insiders hoping that a buyer will come forward to bail out the struggling business.

Mavic employs 250 members of staff in its production of wheelsets and clothing, and has been partnered with the Tour de France for 40 years, providing neutral service assistance to riders.