France’s Atos seeks debt restructuring plan by July after widening losses

French IT consulting firm Atos on Tuesday said its net loss had widened in 2023 and that it aimed to agree a debt restructuring plan by July as uncertainty looms over the group’s future.

“We are also in discussions with our financial creditors with a view to reaching a refinancing plan by July within the framework of an amicable conciliation procedure”, Atos CEO Paul Saleh said in a statement.

The company, which owns assets considered strategic by the French government and is struggling to turn around its loss-making business, posted a net loss of 3.44 billion euros ($3.73 billion) for the year ended Dec. 31 after a loss of 1.01 billion euros in 2022.

($1 = 0.9223 euros)

(Reporting by Augustin Turpin; Editing by Jamie Freed)

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