The Mediterranean ferry operator was officially placed into “observation” administration for a six month period during November by the Marseilles court of commerce. During this time potential buyers can examine its accounts before bidding for part or all of the business.

The court’s decision had been expected after the Veolia group, the firm’s principal shareholder, said administration was the only way forward for the company, which must repay public aid totalling EUR440 million ruled illegal by the European Commission. A Marseille businessman, with undisclosed backers, has made a bid for SNCM with plans to retain 800 of the 1,500 workforce whilst a formal bid by Baja Ferries has also been placed. This Mexican operator expressed an interest some time ago and the offer stipulates keeping the Marseille- Corsica lines and launching new services from Marseille to Morocco, Tunisia and Algeria. However, Baja Ferries intends to close the routes from Nice and Toulon.

Workers have been urging the state to keep the company afloat and have been staging strikes since June thus further worsening the operator’s plight.