The end of Etexx : controversy about an interview of the CEO

How come did Etexx fail and how come they didn’t find any other solution but the liquidation? Interviewed by ViaNice, Frédéric Allard, the CEO, he explains that the first investors, the ones who brought 48 million francs, which is quite a lot of money, had too many problems because of bad investments, and then couldn’t continue to finance Etexx, as it was planned since the beginning (see interview of Frédéric Allard).

Following this interpretation of the failure of Etexx, many employees sent e-mails to the electronic newspaper of Nice in order to give different versions (see the e-mails of several former employees). First, it is said that the audience wasn’t the one which was announced, reveals the former person in charge of the website traffic. Then, the management was expansive and the money of the first investment was wasted in 18 months. A former employee writes that it was wasted, indeed, since a (useless) trip to Miami for 13 people in a hotel on the seasidewas organized as well as many receptions, but in particular, 80 people were recruited whereas the structure is not profitable yet. Rancour of former employees? Real incompetence in the management? At the early beginning of June, the controversy was on the liquidation of the textile platform, founded by the ones who were considered as the princes of the new economy.