The legal setbacks are linked for Go Sport. The Grenoble commercial court placed the sporting goods distributor in receivership this Thursday morning after noting its state of cessation of payments, with liabilities amounting to more than 14 million euros.
“By a well-reasoned judgment, the court […] noted the state of suspension of payments of the company Groupe Go Sport and opened a procedure in receivership”, announced the Grenoble prosecutor’s office in a press release. He clarified that “Go Sport France has not been declared insolvent, but its situation will be impacted by that of its parent company”.
The prosecution wants to be more precise and explains that “two administrators and two legal representatives have been appointed for an initial six-month observation period, in order to manage the company in the best interest of employees and creditors, under the control of judges and the prosecution”.
The 2,160 employees in France of Go Sport anxiously awaited the decision, a few weeks after the liquidation of Camaïeu – which belonged to the same group (Hermione, People & Brands). Nearly 18 million euros would also have been taken from Go Sport’s cash to finance the company placed in compulsory liquidation on September 28, 2022.
As Liberation revealed on Wednesday, this expense is partly the cause of the opening of a preliminary investigation targeting Go Sport for “abuse of social good” by the Grenoble public prosecutor’s office. More than 50 million euros taken from the accounts of this company in difficulty are the subject of legal investigations.
Update : at 9:57 a.m. with more details on the receivership.