The parquet floor of the Grenoble commercial court requested this sentence for the twenty Gap France stores, after results in free fall.
By VP with AFP
© HELENE DECAESTECKER / MAXPPP / PHOTOPQR/VOIX DU NORTH/MAXPPP
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Ihe beginning of the end for the American brand Gap in France? The parquet floor of the commercial court of Grenoble requested this Monday, February 27 the placement in receivership of the 20 franchised stores of the Gap France brand, property of the Bordeaux businessman Michel Ohayon, who also owns Camaïeu and Go Sport.
The prosecution told Agence France-Presse that it had requested the measure, confirming information from Release, and specified that the wage guarantee scheme (the AGS) “will ensure the payment of wages”. A court ruling is expected on Wednesday.
The elected staff of the ready-to-wear brand had exercised their right to alert at the end of January in order to obtain information on the situation of their company, bought in 2021 for one euro by the HPB group (Hermione, People & Brands), who announced that they would resell it to Go Sport.
READ ALSOCamaïeu, Go Sport, Galeries Lafayette: Michel Ohayon, an endless fall
An owner “in turmoil”
Last week, Gap France announced that it was “temporarily forced to stop e-commerce orders”. The CFDT had added that one of the brand’s Parisian stores, located on avenue des Ternes in 17e arrondissement of Paris, was to close by the end of March.
Bordeaux businessman Michel Ohayon, who made his fortune in real estate before buying retail chains such as Camaïeu, Go Sport, Gap France as well as around twenty Galeries Lafayette stores outside Paris, is in turmoil since weeks.
Camaïeu was brutally liquidated in September, leaving some 2,600 employees out of business. And the Grenoble commercial court placed Go Sport France in receivership in early February.
READ ALSOPimkie, Kookaï, Go Sport… The reasons for a descent into hell
“A lack of transparency”
HPB, the distribution arm of Financière immobilière bordelaise (FIB), an investment fund owned by Michel Ohayon, who owns the network of Gap clothing stores in France, announced on January 12 “the acquisition of Gap France by Go Sport” for an amount of 38 million euros.
This operation and the “lack of transparency” on the part of management worried the 350 employees of Gap France, while Groupe Go Sport, the holding company of the brand specializing in sport, was declared in mid-January in receivership by the Commercial Court of Grenoble.