Web offset press manufacturer Goss International France officially entered redressement judicaire, the French equivalent of administration, on 3 April this year.

An administrator was appointed by the French Commercial Court of Compiègne to run the company for an initial restructuring period of six months.

Goss International stated that its intention was to create an organisational structure "based around regional parts, services and support centres with a unified, pan-continental sales and service organisation in Europe".

Prospective buyers had until last Tuesday (21 May) to submit expressions of interest. According to French website OuestFrance.fr, Goss International, which is owned by Chinese conglomerate Shanghai Electric, was the only company to make a submission.

As part of the deal it is understood that Goss International plans to create a Dutch entity with a French subsidiary that would carry out after-sales and engineering services, although this could not be confirmed at the time of writing.

A Goss spokesperson is reported to have told the French publication that Goss France, which currently employs around 320 staff at its headquarters and manufacturing facility in Montataire and 110 at its site in Nantes, intended to retain just 94 employees following the restructure.

Montataire previously had its workforce cut by almost 50% during a restructure in 2010 when Goss reduced its headcount by 300.

Confirming insolvency proceedings last month president and chief executive of Goss International Rick Nichols said that transformation and refocusing on growth was critical for the future of the business.

He added: "Goss has been through a decade of change, but I am confident we are near the end of that period. We have had to take some very difficult decisions, but these were absolutely necessary in light of the facts."

More to follow.