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The owners of Just Over The Top are looking for a buyer for the French jacket brand. Its two entities entered into judicial reorganisation in December after months of economic and operational difficulties.
Exit Arnault
L Catterton Europe, which has held a majority stake since January 2021, appears to be signalling with the judicial reorganization that it does not wish to invest further, Fashionnetwork reports. The debts and ongoing losses apparently made the situation untenable for successive management teams.
L Catterton Europe, which is affiliated with LVMH and the Arnault family’s investment companies, is said to be selling its stake through the proceedings, as are all other shareholders, according to a source close to the case. A new owner will have to clear the debts and revive the business, it is said.
It remains to be seen whether anyone will come forward for JOTT’s assets. In any case, candidates have until January 30 to submit their initial bids. The Marseille Commercial Court is expected to make a decision by the end of March.
