2023-05-11 13:56:32
All the staff of Gap France will not be saved, but it is always better than a judicial liquidation. The Grenoble commercial court granted Spodis, a subsidiary of the JD Sports group, the right to take over a large part of William, which owns Gap France, all for 300,000 euros. In doing so, 214 jobs are saved out of a total of 336, ” with the commitment not to make any redundancies for 2 years “, specifies the parquet floor. Jobs distributed in 19 stores, the head office and two “corners”. On the other hand, ” only 9 stores are taken over in full “. Among the assets that tipped the scales towards Spodis, the court appreciated the proximity of the activities of Gap and JD Sports, the two groups operating in the retail and clothing sector.
Complicated financial situation for Gap France
The court ruled out the possibility of a recovery plan, for lack of sufficiently detailed documents to support the Wilsam company’s project. As a result, the court ordered the compulsory liquidation of Wilsam, allowing the sale of the remaining stores to other buyers. The Gap France brand, belonging to the group of Michel Ohayon, had been placed in receivership at the beginning of March with liabilities of nearly 6 million euros. A liability that has grown disproportionately: it has indeed reached 34 million, as was revealed during the hearing on April 26! In this context, the intervention of Spodis, a solid subsidiary of JD Sports, valued at around 10 billion euros, may seem like a lifeline.
The uncertain future of the Ohayon group
The Ohayon group itself is in turmoil, with an uncertain future. Michel Ohayon, owner of the group, who made his fortune in real estate before diversifying into distribution, is facing a financial storm. After the liquidation of its Camaïeu brand in September, its holding company, Financière immobilière bordelaise (FIB), declared itself insolvent. The acquisition of Gap France for a symbolic euro in 2021 seems to have only added to its problems. The elected staff of the ready-to-wear brand had exercised their right to alert at the end of January in order to obtain information on the situation of their company, which was rapidly deteriorating.
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