The 511 stores of the northern ready-to-wear brand will be closed. The announcement triggered tears among the employees present in the room.
Massive blow for the 2,600 employees of Camaïeu. On Wednesday, the Commercial Court of Lille ordered the judicial liquidation of the women’s fashion brand, owner of 509 stores. Camaïeu had been in receivership since 1is august. On Monday, the management asked the State for a reimbursable advance of 48 million euros, in order to complete its business continuity plan. But Bercy said “niet”, judging that this request was not “realistic”and that the State could not “in no way replace the shareholders” – en l’occurrence Hermione People & Brands (HPB).
A refusal maintained, although HPB said it was ready on Wednesday morning to hand over money on the condition of obtaining public support and the Hauts-de-France region announced that it was ready to help. “If the shareholder is only ready to invest 5 million out of the 80 million required, the plan is very risky; and the State cannot take this risk”we insist at Bercy. “The recovery plan was very poorly instructed, with a one-page business plan. I’m sorry it’s come to this.”declared the Minister Delegate for Industry, Roland Lescure, after the court’s decision.
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The entry-level and mid-range brand suffers from the disaffection of the French for the purchase of clothing. In losses, it is very indebted. And she must pay her confinement rents, following a June decision by the Court of Cassation. Camaïeu had already been placed in receivership in the summer of 2020, before being taken over by the Financière immobilière bordelaise (FIB) of businessman Michel Ohayon, parent company of HPB. Takeover offers are still possible. But it’s a safe bet that they will not concern all stores. Many employees will remain on the floor. The state promised them support.
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