Cornet Vincent Segurel advises the Be Paper group on the placement of its subsidiary Wizpaper in receivership

This decision comes at a particularly difficult time for the paper industry. Founded in 2018, Wizpaper is part of a local industrial tradition while developing innovative and environmentally friendly processes. From the outset, the industrial project has been based on a circular economy approach, using waste paper as a raw material to manufacture paper for corrugated cardboard packaging.

For several months, the company has been suffering from the combined effects of inflation, the historic rise in energy costs—gas and electricity—following the war in Ukraine, and a marked slowdown in the paper market. In August 2025, the company also had to deal with a historic RTE power outage that brought production to a complete halt.

These difficulties have severely weakened the company’s financial situation despite the efforts made since its creation to modernize and improve competitiveness. The company benefits from an efficient site and a committed team, but numerous external factors have called this model into question.

The placement in receivership aims to preserve the business and jobs by allowing time for a potential buyer to take over the business, which is currently in difficulty. This strategic decision also protects the other companies in the group, which specialize in cardboard processing. This strategic decision should enable efforts to be focused on finding viable solutions for the future of Wizpaper, while ensuring the solidity of the group as a whole.

The group’s management remains committed and is working closely with the relevant authorities, social partners, and local stakeholders to find the best prospects for the future of the company and its employees.

“Our priority is to maintain business activity, protect our teams, and preserve the stability of the group. We will do everything in our power to ensure the long-term future of the paper mill” , said Henri Breban, President of the Be Paper group.

A multidisciplinary team from the law firm Cornet Vincent Ségurel, led by Thomas Deschryver, partner, and Stéphanie Forest, managing attorney, assisted the Be Paper group and Wizpaper throughout this process.

Participants

Be Paper: Henri Breban, Perrine Breban, Edouard Breban

Be Paper lawyers: Cornet Vincent Ségurel (Thomas Deschryver, Stéphanie Forest, Raphaëlle De Metz, Mélanie Gabreau, Caroline Hénot, Régis Debroise)

Be Paper financial advisor: Grant Thornton (Gaétan Piens)

Appointed judicial administrator: BMA (Laurent Miquel)

Appointed judicial representatives: Emmanuel Malfaisan and Pascal Ruffin