2024-07-30 19:08:31
After the Covid-19… The ready-to-wear brand Esprit has been placed into receivership in France, according to a court decision consulted by AFP, two months after the group announced that it had filed for compensation for his services in Europe.
Esprit de Corp France, based in Boulogne-Billancourt (Hauts-de-Seine) was placed in receivership on July 18 by the commercial court of Nanterre, we can read in this decision, confirming information from the important site. Fashion Network.
“As of the end of the last fiscal year”, the company employed 145 employees in France and its annual turnover was almost 32 million euros, according to the document. The brand is available in more than a hundred points of sale in France, according to its website.
A “possible” recovery plan.
“The presented elements (by the company manager) suggest that the development of a corporate recovery plan is possible,” ruled the commercial court, setting a notice period of six months.
The group, based in Germany and listed on the Hong Kong Stock Exchange, announced in June that it has filed for bankruptcy for its operations in Europe, counting on restructuring to overcome its problems linked to especially to the increase in its prices and after – the effects of the Covid-19 pandemic.
A bankruptcy filing with subsidiary Esprit Europe and six other German companies in the group. Subsidiaries in Switzerland and Belgium, where Esprit has stores, filed for bankruptcy in April and April.
The clothing chain was founded in 1968 in San Francisco by an American hippie couple, Douglas and Susie Tompkins, also behind The North Face brand, who sold their first items by driving around California in a Volkswagen minivan.
Founders have not been valued for a long time. The group has been listed since 1993, with headquarters in Ratingen near Düsseldorf (west of Germany). Esprit says it is present in more than 40 countries with 586 stores.
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