Go Sport stores are now looking for a buyer. The Grenoble commercial court placed the sporting goods brand in receivership on Wednesday 1er february. This decision follows the receivership of Groupe Go Sport, its parent company, on January 19.
Owned since the end of 2021 by Financière immobilière bordelaise (FIB), a company owned by Bordeaux businessman Michel Ohayon, the group has been going through great financial difficulties since the summer of 2022, despite obtaining two guaranteed loans. by the State in 2020 and 2021 for a total amount of 55 million euros.
The group, which, at the beginning of January, announced that it had concluded the takeover of the Gap brand in France for an amount of 38 million euros, is the subject of a preliminary investigation for abuse of corporate property. The Grenoble prosecutor’s office has instructed the gendarmes to investigate transfers of funds made from the cash of the group led by Patrick Puy since the beginning of January.
Two court administrators
In an internal memo that The world was able to consult, Mr. Puy told Go Sport employees that “the company continues its activity, provided that it always has a positive cash flow”. Therefore, he adds, “it is important to only incur expenses that are essential to the operation of the business or that will improve its attractiveness”.
Two court administrators are responsible for finding candidates for the takeover of the brand, which operates 223 stores in France and employs 2,160 people. The decision of the Grenoble commercial court comes as Wilhelm Hubner, president of Hermione People & Brands, the division which owns the FIB distribution brands, was dismissed from his corporate office at the end of January.
Following the freezing of Go Sport’s debts, the fate of this entity, whose income is provided by Go Sport, the 25 Galeries Lafayette stores, the 22 Gap stores and the Legal brand, now seems very compromised.