One more.
The ready-to-wear brand Burton of London was placed in liquidation this Tuesday by the Paris commercial court.
The French channel, whose main shareholder is businessman Thierry Le Guénic, first benefited from a safeguard procedure before being placed in receivership during the summer of 2023.
No overall takeover offer had been presented to the judges responsible for the company's legal recovery case, which had allowed management to propose an alternative continuation plan.
But it was deemed insufficient by the legal representatives and administrators as well as the supervising judge who therefore
“supported a request for liquidation”
from Burton of London.
A social plan?
The legal decision will therefore probably lead to the closure of the stores as well as a social plan for the entire staff of the company,
“around 250 employees”
.
In this eventuality, there could be offers to take over individual stores.
At the start of 2023, Burton of London had 109 stores and employed 440 employees, then closed 26 points of sale in February.
All this takes place in a context where the ready-to-wear sector in France has been shaken by a violent crisis for several months.