Caméléon launches "last ditch plan" | RetailDetail

Caméléon launches "last ditch plan"

Caméléon launches "last ditch plan"

Caméléon's parent company has filed a plan to save the company from bankruptcy to the commercial court in Brussels. A judge will now decide the company's future.

"Drastic measures"

Caméléon's specialty is to buy all the surplus from large fashion brands, but it currently has a 10 million euro debt. In order to be able to continue, it had to present a restructuring plan.

 

"We have done the most realistic in order to save the company. If this plan does not succeed, the company will go bankrupt. We have taken drastic measures, but we want continuity and the company to survive", crisis manager Pascal Leurquin said.

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