2023-06-15 18:21:00
The French chain of stores Burton of London, in safeguard proceedings since October 2022, has been placed in receivership, according to its main shareholder, Thierry Le Guénic.
André, Camaïeu, San Marina, Kookaï, Gap France… Burton of London, which defines itself as “the most English of French brands”, is added to the list of victims of a deep crisis affecting clothing, with a succession of liquidations and receiverships. The French chain of stores Burton of London, in safeguard procedure since October 2022, has been placed in receivership, its main shareholder, Thierry Le Guénic, told AFP on Thursday.
“We had a conversion of the safeguard (procedure) into receivership”, explained Thierry Le Guénic, who bought the chain for a symbolic euro at the end of 2020, specifying that “the project” to make the company profitable “remains identical”.
220 employees threatened
The cause of this recovery: the health crisis but also competition from online sales and the second-hand market. The recovery plan led to the closure of 26 points of sale in February, in particular those in Aix-en-Provence, Clermont-Ferrand, La Roche-sur-Yon, Créteil, Montauban and even Paris Montparnasse – a figure confirmed by the brand owner.
According to the unions in February, Burton of London was seeking to close or sell 62 stores, to keep 47, threatening some 220 employees out of the nearly 440, a figure then described as “maximum of the maximum”. In outlets that Burton of London is not closing or trying to divest, women’s collections will be phased out to “refocus on men”, and outlets will “welcome other brands” of menswear. male.
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The placement in receivership of the group – which was initially the French subsidiary of an English brand founded in 1904 – was decided on June 12 by the Paris Commercial Court, confirmed Le Guenic. In 2020, the entrepreneur also bought the furniture brand Habitat from the Cafom group as well as, with the investor Stéphane Collaert, the shoemaker San Marina, placed in compulsory liquidation in February – a company from which he had withdrawn in July 2021, said his entourage.
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