(23 Jun 1978) In France, the Boussac group of companies - specialising in textiles - is on the verge of collapse. A pool of banks which has been supporting Boussac, the 'cotton king', decided to withdraw its support and refuse a salvage plan proposed by the group. First consequence of this refusal could be that Boussac's eleven thousand workers (including 6,400 in factories around Vosges, eastern France) will not be paid at the end of the month. In protest against the banks' decision, the Communist-led CDGT and Socialist CFDT unions organised a sit-in at the central Paris headquarters of one of the banks, Credit Lyonnais. The Boussac workers, supported by bank employees' trade unions, occupied the main hall and leafleted bank staff and customers. They agreed to leave the building when Credit Lyonnais' management called in police.
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