Bankruptcy filled for, days numbered. The best bits will be cherry picked off (Geoscience) and the rest will be laid to waste. Shame - it had heaps of potential to integrate properly, but too many of the assets couldn't or wouldn't work out ways to work together to deliver the potential that various components could deliver as a truely integrated set of solutions. Taking over Fugro's geoscience devision and boats was badly timed and ultimately, will have proven disastrous for the company.
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No, with a market environment expected to remain similar in 2017 and to continue to weigh on its revenues, the company stated it considers that the group’s debt level is too high.
Depends on the results of Q4. If they claim 200% profit they may survive
I guess about 4 weeks to go (Q4 presentation, about 1 month from now). Q4 loss expected.
I am surprised to see CGG still doing business
The entire company's days are numbered.
https://finance.yahoo.com/quote/CGG?p=CGG
They have become non competitive, Need to focus on what they do best and not try and do everything themselves.
CGG status: On its last legs.
Informal:
Something that is on its last legs is in such bad condition that it will soon be unable to work as it should.
the stock price is 1/100th as it was when CGG got into the debt of today.
how can any business survive with such debt?
Ultimately CGG cannot survive..... they are a victim of their own incompetence.
I do not think they will though
no. management is too terrible.
Depends on how soon they can get rid of incompetent management.
What is happening regarding discussion with stakeholders and creditors?
I'm sorry. The answer is NO.