Camaïeu will be placed under receivership if payments are suspended
The company is “working immediately on the continuation plan” to save its 2,751 employees.
After stopping payments two years after it was acquired by Financière immobilière bordelaise, the ready-to-wear giant Camaïeu was placed under receivership by the Lille Commercial Court on Monday, its management told AFP.
“We take note of the decision of the court, which announced the opening of bankruptcy proceedings at Camaïeu’s request“showed the direction and stated to work”from now on the continuation plan“, the destination of the sign, which employs 2,571 people, “maintaining the activity of the company and the Camaïeu brand“.”This decision should allow Camaïeu, a historic brand of French textiles, to have an observation phase and then present a continuation plan to continue the transformation initiated by the group, thus ensuring the sustainability of the company.” said in a press release the group Hermione People and Brands (HPB), the sales department of the FIB of the Bordeaux businessman Michel Ohayon.
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The brand, which has 538 stores in France, had requested the opening of this procedure last Monday, declaring that it would stop payments, which were particularly burdened by unpaid rents. This request has been madeafter a period of several months marked by a series of exogenous difficulties‘ developed HPB. “At the time of its recovery already very fragile“in 2020”Camaïeu faced a wave of large and unprecedented successive crises due to the COVID crisis, repeated lockdowns (…) and the disorganization of global transport“, says the press release.
HPB also cites a “Cyber attacks of exceptional magnitude as well as the consequences of the war in Ukraine and the increase in the price of raw materials“.”Already largely weakened by this series of unprecedented facts, Camaïeu has had to face the judgment of the Court of Cassation since June 30, which denies merchants the right to request a reduction in their rents for the Covid period.adds HPB. “Even if the court confirms a continuity plan, we know very well that there will be a reorganization of the workforce, i.e. a social plan, i.e. social damage“, reacted for AFP Thierry Siwik, CGT delegate from Camaïeu. “In order to minimize this social damage, we will set up an action with the CGT HPB“, he added.
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