Arche, a French manufacturer of high-end shoes, which employs some 110 people in Château-Renault (Indre-et-Loire), has been placed in receivership at the request of its management, we learned on Wednesday from the 'business.
This procedure, which was decided on February 1 by the Tours commercial court, only concerns the French entity and not the entire group, its president, Catherine Hélaine, told AFP, confirming information from the newspaper The New Republic.
According to Ms. Hélaine, this legal recovery measure was requested by the company itself, due to
“cyclical cash flow problems”
.
“We have an excessively cyclical activity, with very strong orders from our suppliers”
, to support an increasing turnover, but which coincide with a
“rather low payment”
period from debtors, he added. -she explains.
“We have no concerns for the future
,” insisted the president of the group.
The six-month observation period
“will allow us to show that we are following the recovery plan submitted”
to the court.
A family business created in 1968, Arche ended 2023 with an annual turnover of 12 million euros.
The company exports more than 70% of its production.