There are five finalists in the running to get their hands on Groupe Juste pour laughs (JPR) and everything indicates that the insolvent comedy giant will be sold in one piece rather than in pieces.
Before the Superior Court of Quebec on Monday, controller Christian Bourque, of the PwC firm, gave an overview of the company’s sale process, still under the protection of the Companies’ Creditors Arrangement Act (CCAA). .
“We have serious buyers who are interested in the entire company,” he said, before Judge David R. Collier. They were the ones selected as finalists for the second phase. »
Mr. Bourque, however, did not lift the veil on the names of the potential buyers. They have until May 6 to submit a “final and binding” offer for JPR. Currently, the three shareholders of the humor specialist – Bell (26%), Groupe CH (25%) and the American firm Creative Artist Agency (49%) – are not in the running.
No less than 15 potential buyers had signed confidentiality agreements since the beginning of March to have access to JPR’s books. Previously, PwC had contacted almost 130 potential buyers.
“The process involved a large number of letters of intent,” Mr. Bourque said before the magistrate.
When it took shelter from its creditors on March 5, JPR had secured and unsecured debts of around 50 million. The National Bank was the main guaranteed lender (17 million) of the group.
Mr. Bourque was back in court to request an extension, until May 31, of the period during which JPR can continue to benefit from the protection of the CCAA.
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- JPR divisions: festivals, television production, show production, artist management, content distribution, digital production, corporate events.
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- Presentation of the first Just for Laughs festival.
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