The brand, which has 538 stores in France and 2,571 employees, had requested the opening of this procedure last Monday.
Le Monde with AFP
In cessation of payment two years after his takeover by the Bordeaux real estate financial (FIB), the ready-to-wear giant Camaïeu was placed on Monday 1 er August in receivership by the court Commerce in Lille, announced its management to the France-Presse agency (AFP). “We take note of the decision of the court which pronounces the opening of a receivership procedure at the request of Camaïeu,” said management, specifying working “now in the continuation plan”, the objective of The brand, which employs 2,571 employees, “being to preserve the activity of the company and the Camaïeu brand”.
“This decision must allow Camaïeu, a historic brand of French textiles, to have an observation period and then present a continuation plan in order to continue the transformation initiated by the group and thus ensure the sustainability of the Company, “said a press release The Hermione People and Brands group (HPB), the Distribution Division of the Fib of Bordeaux businessman Michel Ohayon.
weakened by the health crisis and the war in Ukraine
The brand, which has 538 stores in France, had requested the opening of this procedure last Monday, declaring itself in cessation of payment, weighed in particular by unpaid rents. This request was made “after a period of several months marked by a series of exogenous difficulties”, developed HPB. “Already very fragile at the time of his resumption”, in 2020, “Camaïeu was confronted with a wave of major and unprecedented successive crises due to the COVID crisis, the repeated confinements (…) and the disorganization of world transport”, According to the press release.
HPB also cites a “cyber attack of exceptional magnitude as well as the consequences of the war in Ukraine and the increase in the price of raw materials”. “Already largely weakened by this unprecedented succession of facts, Camaïeu has faced, since June 30, to the judgment of the Court of Cassation, refusing to traders the right to request a drop in their rents from the COVID period”, Add HPB. “Even if the court validates a plan of continuity, we know very well that there will be a reorganization of the workforce, therefore a social plan, therefore of social breakage”, reacted Thierry Siwik, CGT delegate of Camaïeu. “To minimize this social breakage, we will build an action with the CGT HPB,” he added.