End clap for Camaïeu and its 2,600 employees.
Two years after its takeover, less than two months after its placement in receivership, the northern ready-to-wear brand was put into liquidation on Wednesday September 28.
An outcome that the government regretted, implicating the shareholder.
“The court converts the recovery into judicial liquidation”, declared its president after a hearing of around three hours and an express deliberation, specifying that the activity would be maintained “until Saturday 11 p.m. .
This verdict will cause the closure of 511 stores and the loss of 2,600 jobs.
"It's a great disappointment," reacted to AFP the Minister Delegate for Industry Roland Lescure.
“The recovery plan was very uneducated with a business plan that fits on one page.
I am not capable (under these conditions) of committing public funds.
I'm sorry it's come to this," he said.
For its part, the management of Hermione People and Brands (HPB), shareholder of Camaïeu and subsidiary of La Financière immobilière bordelaise (FIB), did not react immediately.
Read alsoAccessible fashion brands are the favorites of the French
"A drama"
As they left the courtroom, many employees were in tears.
While some verbally attacked the businessman Michel Ohayon, owner of the FIB.
“2,600 people on the street, how do we do it?
He is the one who will pay us the rents, he is the one who will feed the families?” shouts Cynthia, one of the employees, in front of journalists.
“We fought for this company”, defended the main interested party, claiming to be “as appalled” as them.
Terrible news on a human level and a terrible economic mess for this historic brand
Xavier Bertrand, LR president of the Hauts-de-France region
“We work with a lot of service providers, so we exceed 5,000 employees”, reacted Chérif Legba, FO delegate, who evokes “a drama” for all these families.
The LR president of the Hauts-de-France region, Xavier Bertrand, meanwhile deplored “terrible news on a human level and a terrible economic waste for this historic brand”, promising to “help each dismissed employee to find a activity".
"It's a very dirty blow for our region and our metropolis", echoed the PS mayor of Lille Martine Aubry, who wants the State to be "very present with employees".
Read alsoCamaïeu disturbs with this campaign against violence against women on its online store
In video, the fashion industry in 12 figures
“An unbalanced offer”
The plan presented to the court by the shareholder HPB planned to limit social damage, with 500 jobs cut.
HPB said it was ready in the morning, like the Hauts-de-France region, to inject more money to avoid liquidation, provided that the State also provides financial support to save the sign, heckled by the health crisis and a costly cyberattack.
HBP had previously quantified the "refundable advance" requested at 48 million euros, but Bercy had ruled on Monday that this request was not "realistic".
The takeover plan communicated this Sunday "consisted of the State giving up 20 million in liabilities, with an additional 48 million in direct loans (...) all this with a cash contribution of 5 million from the shareholder “said Minister Roland Lescure, castigating “an extremely unbalanced offer”.
In video, the ecological impact of the textile industry in 8 key facts
The fault of the Covid
According to HPB, which estimated that a total of 79.2 million euros was needed over the next eight months to turn the brand around, the plan provided for a capital outlay of 14 million euros from the FIB to buy the headquarters. and the Camaïeu warehouse.
They would then have been "valued" and resold for an estimated amount of between 55 and 60 million.
Still according to HPB, the sign changed after a judgment of the Court of Cassation imposing at the end of June on traders to pay unpaid rents during the Covid period.
Their amount is 70 million euros out of a total of 240 million debts.
By taking over 511 of the brand's 634 stores in France and some 2,600 employees out of more than 3,100, the shareholder had given himself two years in 2020 to bring the brand back into balance.
