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Why Sigfox Entered French Insolvency Proceedings—and What Happened Next

Sigfox’s 2022 “bankruptcy protection” was a French court-supervised reorganization, not an immediate shutdown. The court later ordered liquidation and approved a sale to Unadiz Holdings.
From TheFinanceBase Team2 min to read
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Sigfox did not go straight into liquidation when it sought “bankruptcy protection” in 2022. The Toulouse Commercial Court opened a French redressement judiciaire—a court-supervised reorganization procedure intended to allow business activity to continue and a possible recovery—on 26 January 2022. The court converted the proceeding to liquidation on 21 April and approved a €3.3 million sale to Unadiz Holdings PTE Ltd. UnaBiz, the buyer, announced plans to safeguard jobs and prioritize service continuity.

What “bankruptcy protection” meant in Sigfox’s case

“Bankruptcy protection” is an English-language shorthand, not the name of the French procedure. The Toulouse Commercial Court opened redressement judiciaire for Sigfox on 26 January 2022. The process placed the company under court supervision while allowing for continuation and a possible recovery; filing did not itself mean the company had been liquidated or had immediately stopped operating. The court record gives 15 January 2022 as the date Sigfox ceased payments. Toulouse Commercial Court record

Why Sigfox sought court protection

Contemporaneous reporting described a combination of business and financial pressures: slower-than-expected adoption of Sigfox’s technology, disruption to IoT activity during the COVID-19 pandemic, shortages of electronic components, and pressure on cash flow alongside accumulated debt. The pandemic was reported as one contributor, not established as the sole cause. The court record confirms the legal proceeding and date of cessation of payments; it does not establish those commercial explanations. Contemporaneous report EE Times report

EE Times reported that accounts it consulted showed a net loss of nearly €91 million, revenue just over €24 million, and financial debts of €118 million. Those figures are the publication’s report of account figures, not a court finding or figures independently verified here; the accounting period is not established in the cited material, so they should not be read as a complete or period-specific financial statement. EE Times

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EE Times also quoted Sigfox corporate communication manager Antoine Mège describing the French procedure as a way to continue activity and seek a revival. Mège said the objective was to find a buyer able to invest in the company’s growth and development. These were statements made during the proceeding, quoted by the publication. EE Times

How the court proceeding ended

After extending the observation period, the Toulouse Commercial Court converted the reorganization proceeding into liquidation on 21 April 2022 and approved a transfer to Unadiz Holdings PTE Ltd for €3.3 million. A later court record confirms the date and disposition. Court record Later court record

Who bought Sigfox, and what did the buyer promise?

UnaBiz announced that it was the new owner of Sigfox SA and Sigfox France SAS. Its announcement said 110 of the 174 existing employees would be safeguarded, and named continuity of commercial activity and mission-critical network and backend systems as priorities. These were the buyer’s plans at the time; the announcement alone does not prove that every job or service was ultimately maintained. UnaBiz announcement, 21 April 2022

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What the 2026 court record says—and does not say

A public record of a Toulouse Commercial Court judgment says Sigfox France SAS’s liquidation was closed for insufficiency of assets on 2 July 2026. That is a legal status update for the French subsidiary’s liquidation proceeding. It does not, by itself, establish whether Sigfox technology or network services continued or ceased operating. The located record says Sigfox SA’s liquidation deadline was extended; it does not say that Sigfox SA’s liquidation was closed. Pappers Justice record Court judgment record

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DYP-A19 Kit Application Support Lorawan NB-IoT Sigfox IOT Device Smart Parking Equipment System Smart City Parking Sensor (UART Controlled, 1)
  • Features of the A19 module include millimeter resolution, 28cm to 450cm range, Multiple output interfaces optional: PWM pulse width, UART controlled, UART automatic, Switching.
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  • The module has a built-in high-precision ranging algorithm and power management program, with high ranging accuracy and low power consumption.
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