Camaieu placed in receivership by the Commercial Court of Lille
Camaieu hopes to start on new bases despite the financial difficulties. The ready-to-wear company was placed in receivership on Monday by the Lille court. It is in cessation of payment, two years after its takeover by Financière immobilière bordelaise. “We take note of the decision of the court which pronounces the opening of a judicial reorganization procedure at the request of Camaieu” indicated the management, specifying to work “from now on the continuation plan”, the objective of the sign, which employs 2,571 employees, “being to preserve the activity of the company and the Camaieu brand”.
“This decision should allow Camaieu, a historic French textile brand, to have a period of observation and then to present a continuation plan in order to continue the transformation initiated by the group and thus ensure the sustainability of the company”, said said in a press release the Hermione People and Brands (HPB) group, the distribution division of the FIB of the Bordeaux businessman Michel Ohayon.
538 stores in France
The brand, which has 538 stores in France, had requested the opening of this procedure last Monday, declaring itself in cessation of payment, weighed down 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 its recovery” in 2020 “Camaieu has been faced with a wave of major and unprecedented successive crises due to the COVID-19 crisis, repeated confinements (…) and the disorganization of global 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”.
Planned social plan
“Already largely weakened by this succession of unprecedented facts, Camaieu has had to face, since June 30, the judgment of the Court of Cassation, refusing traders the right to request a reduction in their rents for the Covid period” , adds HPB. “Even if the court validates a continuity plan, we know very well that there will be a reorganization of the workforce, therefore a social plan, therefore social damage”, reacted for AFP Thierry Siwik, CGT delegate of Camaïeu . “To minimize this social damage, we are going to build an action with the CGT HPB”, he added.
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