Ready-to-wear model Burton of London liquidated | EUROtoday

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The ready-to-wear model Burton of London was positioned into obligatory liquidation on Tuesday February 13 by the Paris industrial court docket, a supply near the matter revealed to Agence France-Presse (AFP). The French group, whose principal shareholder is Thierry Le Guénic and which employs some 200 individuals, first benefited from a safeguard process then was positioned in receivership in the course of the summer season of 2023.

The liquidation introduced on Tuesday ought to result in the closure of shops in addition to a social plan which issues the complete employees, even when there may very well be proposals to take over particular person shops, a supply near the matter stated to AFP in the beginning of February.

According to Anne-Marie Da Costa, CFTC union consultant, Burton of London employs some 200 individuals and has 46 shops, which closed on Saturday. The headquarters closed on Monday, she additional informed AFP.

“When Thierry Le Guénic acquired the company for a symbolic 1 euro in November 2020, via his company Ulysse Capital, 658 employees worked at Burton of London for 122 stores throughout France”recalled the CFTC in a press launch. “Today there is nothing left”deplores the CFTC which accuses Mr. Le Guénic: “He refused to make any contribution to society despite the aid he received [sic] of State. »

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Ready-to-wear crisis

“The shareholder made decisions for the benefit of group companies and to the detriment of Burton of London”additional affirmed the union, which explains “the current economic situation” of the corporate. “After the 228 dismissals already pronounced” in the course of the first job safety plan, in February 2023, “200 people find themselves on the floor again”based on the CFTC.

Camaïeu, Kookaï, Naf Naf, Gap France, Don't Call me Jennyfer, André, San Marina, Minelli, Pimkie, Comptoir des Cotonniers, Du Pareil au Same, Sergent Major, Princesse Tam Tam, Kaporal, IKKS… The ready-to-wear -porter has been going by way of a violent disaster for over a yr.

Some firms lower employees and shut shops, like Pimkie, others are positioned in receivership, like Naf Naf, and, extra hardly ever, liquidated, like San Marina. These well-known manufacturers in French metropolis facilities have suffered from an explosive cocktail: pandemic, inflation, rising costs of power, uncooked supplies, rents and wages and even competitors from second-hand and “fast” items. vogue”.

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The World with AFP

https://www.lemonde.fr/economie/article/2024/02/13/l-enseigne-de-pret-a-porter-burton-of-london-liquidee_6216379_3234.html