Intersport is preparing to make a takeover offer on Go Sport

Go Sport and in receivership. The takeover offer must be submitted by Friday, the deadline for submitting offers.

MP with AFP

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Specialist in corporate restructuring and recently passed by Vivarte, Patrick Puy was appointed head of Go Sport on January 4. HPB then presented him as “broken in social dialogue in business”, responsible for “pursuing the necessary transformation” of society.
© PHILIPPE PAUCHET / MAXPPP / PHOTOPQR/VOIX DU NORTH/MAXPPP

Published on 03/09/2023 at 21:50

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Lhe chain of sports stores Intersport is preparing to make a takeover offer on its competitor Go Sport, in receivership, we learned Thursday from a source familiar with the matter confirming information from Les Echos, while the leader of the group in difficulty was revoked.

This takeover offer must be filed by Friday, the deadline for submitting offers to the Grenoble Commercial Court, which had placed Go Sport in receivership in February. In addition, the general manager of Go Sport, Patrick Puy, was dismissed by the parent company Hermione People & Brands (HPB), two months after his arrival, we learned from the latter on Thursday. Asked by Agence France Presse, HPB did not wish to comment on the reasons for this revocation, initially revealed by the newspaper The world and the trade magazine LSA.

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Specialist in corporate restructuring and recently passed by Vivarte, Patrick Puy was appointed head of Go Sport on January 4. HPB then presented him as “broken in social dialogue in business”, responsible for “pursuing the necessary transformation” of society. He was the second general manager in less than a year after Benoît Verdier, appointed at the end of February 2022. Go Sport is also the subject of an investigation for “abuse of social good” after “the auditors transmitted several revelations of criminal facts, ”according to the Grenoble prosecutor’s office.

Loss-making for years, the group, founded in 1978 and based in Sassenage in the suburbs of Grenoble, was bought at the end of 2021 for a symbolic euro by HPB from the parent company of the food distribution group Casino, the company Rallye, itself heavily in debt. The company employs just over 2,000 people.

In cessation of payments, the FIB is the holding company of the Bordeaux businessman Michel Ohayon, currently in turmoil between financial difficulties and suspicions of fraud. Its subsidiaries include HPB, which brings together several chain stores, including Camaïeu, which was liquidated in September 2022, Go Sport and Gap France, also in receivership. HPB was placed in receivership in January.