2023-08-31 21:18:33
PHILIPPE HUGUEN / AFP (FILES) This photograph taken on February 24, 2014 shows the logo of a Naf Naf clothing store in Lille, northern France. Women’s ready-to-wear retailer Naf Naf filed for receivership at the beginning of the week, a spokesperson told AFP on August 31, 2023, confirming a report by specialist website Fashion Network, to deal with “rent arrears” accumulated during the Covid period. (Photo by Philippe HUGUEN / AFP)
PHILIPPE HUGUEN / AFP
Naf-Naf is added to the ready-to-wear brands in danger of death following Gap, Go Sport or Camaïeu
INDUSTRY – The women’s ready-to-wear brand Naf Naf requested its placement in receivership earlier this week, a spokesperson told AFP on Thursday, August 31, confirming information from the specialized site Fashion Network, to cope with “rent payment arrears” accumulated during the Covid period.
Naf Naf had not been eligible for aid during the health crisis, said the spokesperson. The French brand launched in 1973 by two brothers employs 660 people in France, owns 131 stores and posts a turnover of 141 million euros in 2022, ” growing “according to the same source.
A hearing should be held ” At the beginning of next week “ with the Bobigny commercial court (Seine-Saint-Denis) and the company should “submit a continuation plan”according to a source familiar with the matter.
The company had begun to restructure and cut 27 positions in June 2023 as part of a PSE, the spokesperson told AFP. It had already been placed in receivership in May 2020 and taken over by the Franco-Turkish group SY, which is still its shareholder, and which had already acquired the Sinéquanone brand in 2019.
Tough period for French ready-to-wear
The ready-to-wear sector in France has been shaken for several months by a violent crisis.
Camaïeu, Go-Sport, Kookaï, Burton of London, Gap France, André, San Marina, Kaporal, Don’t Call Me Jennyfer, Du Pareil au Même and Sergent Major… These brands well known to French consumers have suffered from an explosive cocktail: pandemic, inflation, rising costs of energy, raw materials, rents and wages and competition for second-hand goods.
It was fatal for certain brands, which were liquidated, such as Camaïeu in September 2022, whose dismissal of 2,100 employees made a strong impression. Others are in receivership, such as Kookaï or Burton of London.
Without reaching that point, still others are cutting back, cutting staff and closing stores, such as Princesse Tam Tam, Comptoir des Cotonniers (Fast Retailing group) or Pimkie.
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