The Limited Times

Now you can see non-English news...

Pimkie: imminent sale, 500 jobs at risk, according to union sources

2023-02-02T11:35:51.070Z


The conditions of sale of the women's ready-to-wear brand, belonging to the Mulliez family, must first be validated by the Lille Commercial Court.


The women's ready-to-wear brand Pimkie is about to be sold to a consortium of Lee Cooper France, Kindy and Ibisler Tekstil, a takeover that would result in the loss of around 500 jobs, AFP learned on Thursday from union sources familiar with the matter.

The sale of Pimkie

” by the Mulliez family association (AFM) “

will soon be approved

,” a source familiar with the matter told AFP, confirming information from

Challenge

.

A conciliation hearing is scheduled for February 8 before the Commercial Court of Lille-Métropole, relating “

to the conditions of the sale

” and the “

commitments

” made by the seller and the buyer, said this source.

Read alsoThe Mulliez family puts Pimkie up for sale

The brand, which employs 1,500 people and has 232 own stores and 81 affiliated, announced in October that it had entered into exclusive negotiations to be acquired with the consortium made up of the Lee Cooper France, Kindy and Ibisler Tekstil groups.

According to Marie-Annick Merceur, CFDT union delegate, the buyers "

will be within the walls around February 16-17

" and "

in April, we should be told of a social plan with a hundred stores to close

".

The CSE expert assesses the number of posts cut from 450 to 500

“As part of this PSE (job protection plan) she says.

These elements were presented at a meeting of the CSE in December.

According to Marie-Annick Merceur, the transfer operation provides for the AFM to create a financial structure “

which will make it possible to finance this social plan, investments and future banking maturities

”.

Contacted by AFP, the management of Pimkie and Kindy declined to comment.

Another union source also anticipates a PSE which would concern around 500 employees, mainly employed by 100 stores which will be gradually closed between 2023 and 2025. According to her, the unions have already obtained guarantees on this future PSE, in particular on the supra bonuses -legal.

The AFM "

will put 250 million euros, in stages

", says this source.

Mulliez will pay off his debts and support the financial recovery, but once they are gone, we are not sure that it will last very long

,” she worries.

The buyers “

have not presented any project that will make Pimkie better tomorrow.

We continue to lose money and as much as the Mulliez family had strong backs (...) they don't have it

“, also regrets Marie-Annick Merceur.

Source: lefigaro

All business articles on 2023-02-02

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.