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Fixed costs: a reimbursement scheme effective from March 31

Published April 01, 2021 - 3 mins reading time
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Since March 31, administratively closed companies with sales of at least €1 million per month have been eligible for a 70% state subsidy of their fixed costs.

Cover 70% to 90% of operating losses for the hardest-hit companies

The scheme to cover fixed costs had been announced in January when the curfew was introduced to curb the spread of the virus. In a press release issued on March 10, 2021, the Minister of the Economy, Bruno Le Maire, and the Minister Delegate in charge of Small and Medium-sized Enterprises, Alain Griset, announced that it would be operational from March 31.

In concrete terms, this new aid covers fixed costs that are not covered by revenues, insurance or public aid available to companies.

It is designed to cover 70% of operating losses for companies with 50 or more employees, and 90% for companies with fewer than 50 employees, up to a limit of 10 million euros in 2021.

Which companies are eligible?

This scheme applies to chain stores, certain hotel groups and tourist residences that meet the following conditions:

  • Must have been created before January 1, 2019 for January-February aid, before February 28, 2019 for March-April aid, before April 30, 2019 for May-June aid;
  • Justify a loss in sales of more than 10% in 2020 compared with the previous year;
  • Monthly sales in excess of 1 million euros or annual sales in excess of 12 million euros;
  • Have suffered a loss of at least half its sales and be eligible for the solidarity fund in January or February 2021;
  • Negative EBITDA for the first two months of 2021.

Aid is also available to companies with high fixed costs that are insufficiently covered by the solidarity fund. For example, companies in the leisure, sports, zoological gardens and parks, spa and mountain tourism sectors are eligible without any sales criteria, as long as the two aforementioned criteria are met.

How can you benefit from this aid?

Applications for the months of January and February can be submitted from March 31 onwards via the eligible company's professional space on the impots.gouv.fr website.

For March and April 2021, the request must be made in May. For May and June 2021, it will be possible to apply in July.