Thermes Marins Calls EGM After €2m Loss Erodes Capital
By Zak Jackson, MonacoViews Editorial
The Société Anonyme Monégasque des Thermes Marins Monte-Carlo will ask shareholders on 29 September whether the spa should continue trading following losses that have wiped out more than half its share capital.
Shareholders of the Société Anonyme Monégasque des Thermes Marins Monte-Carlo are to convene for an Extraordinary General Meeting on 29 September 2026, triggered by a €2 million loss that has reduced the company's share capital below the legal threshold requiring a formal decision on the business's future.
The EGM agenda has two core items: first, a vote on whether the operation should continue at all; second, approval of a proposed capital restructuring designed to restore the company's financial footing if shareholders back continuation. Both decisions carry significant weight given the spa's position within the Hôtel de Paris complex and its long association with the Société des Bains de Mer group's Monte-Carlo offer.
For residents and property owners along the lower Carré d'Or, the outcome matters beyond the financial mechanics. Thermes Marins occupies a substantial footprint on Avenue Princesse Grace and draws a clientele that supports broader footfall in the district. A restructuring that keeps the doors open would be welcomed; a wind-down would leave a conspicuous gap in one of the Principality's most visited addresses.
No date has been confirmed for any follow-up measures pending the shareholder vote, and the outcome of the 29 September meeting will determine whether restructuring proceeds or alternative options are pursued.