The Toulouse commercial court granted Matthieu Pigasse a three‑week extension to finalize his rescue bid for struggling paper group Fibre Excellence, with a hearing set for July 27
Executive summary: On July 6, 2026 the Toulouse commercial court awarded Matthieu Pigasse a three‑week delay to strengthen his takeover offer for Fibre Excellence, setting a review date for July 27. The extension is crucial for securing the state‑guaranteed electricity price needed to make the rescue financially viable, affecting jobs and the French paper sector.
Who is involved: Matthieu Pigasse, Fibre Excellence, Toulouse commercial court, French state (potential electricity tariff guarantor)
Likely next: If the state agrees to the tariff, the plan will be confirmed on July 27; otherwise Pigasse may need to revise his offer or seek alternative investors.
The tribunal’s decision gives the financier additional time to secure state backing for the electricity tariff that underpins his rescue plan. Fibre Excellence has been in judicial redress since early 2026, and Pigasse’s offer is seen as the most credible path to avoid liquidation. The July 27 hearing will determine whether the plan can proceed or if alternative solutions must be sought.
Timeline
- — Fibre Excellence : ultime délai pour conforter le plan de sauvetage de Matthieu Pigasse (Le Monde — Économie)
- — Le banquier Matthieu Pigasse a déposé une offre de reprise du groupe papetier en difficulté Fibre Excellence (Le Figaro — Économie)
- — La patronne de la CGT appelle l'État à être «au rendez-vous» pour sauver Fibre Excellence (Le Figaro — Économie)
Analysis — what this means
Likely next events
- State decision on electricity tariff for Fibre Excellence (expected by late July)
- July 27 court hearing on Pigasse’s rescue plan
Sectors affected
- Paper and pulp
- Energy (electricity tariff)
- Industrial manufacturing
Regulatory implications
- Review of state aid compatibility with EU rules
- Scrutiny of judicial rescue procedures under French insolvency law
Historical parallels
- 2015 rescue of Arjowiggins paper group via state-backed electricity tariff
- 2018 French government intervention to save Alstom’s transport division
- 2020 state support for Air France‑KLM linked to energy cost guarantees
Key entities
Sources
- Fibre Excellence : ultime délai pour conforter le plan de sauvetage de Matthieu Pigasse — Le Monde — Économie
- Le banquier Matthieu Pigasse a déposé une offre de reprise du groupe papetier en difficulté Fibre Excellence — Le Figaro — Économie
- La patronne de la CGT appelle l'État à être «au rendez-vous» pour sauver Fibre Excellence — Le Figaro — Économie