Gerard Darel placed under 4-month guardianship

Gerard Darel placed under 4-month guardianship

French fashion group Gerard Darel has been placed under guardianship by the French trade court. It does not have to pay debts during a four-month period and can try to find an investor or buyer in that time frame.

Debt too high

Gerard Darel, founded in 1971 in Paris, focuses on the higher branches of the market and has several well-known people as its clients. Angelina Jolie, Heidi Klum, Jessica Alba and Eva Longina have all worn something from the French group.

 

Ever since 2008, investment fund Advent has 90 % of Gerard Darel's shares with the remainder in the hands of the founding Gerbi family. When the British investors purchased the shares, the company sought an international expansion, which has led to 300 stores - half of those in France - and a 200 million euro turnover.

 

New investors wanted

The company is now in trouble because of the increased competition and disappointing results and was unable to pay off its debts in time. An attempt to reconcile with its debtors failed and that is why it has been placed under guardianship with an estimated 100 million euro debt.

 

Gerard Darel now has 4 months to find a new investor or buyer, which - according to French paper Les Echos - could be fellow fashion companies IKKS, Armand Thierry, Sandro-Maje. Investor Borletti is also a possibility, especially after it has become clear over the past few months that Advent wants out.

Questions or comments? Please feel free to contact the editors


Small Belgian brewery conquers Brazil thanks to playing cards

13/09/2017

Het Nest, a small brewery from Turnhout, will get its beers brewed in Brazil as well. It has struck a deal with Cervejaria Premium Paulista, which will brew and distribute the beers locally.

Price cuts drive 25 % more customers to Whole Foods

12/09/2017

Supermarket chain Whole Foods welcomed an additional 25 % of customers in the first few days following Amazon’s price cuts.

Ter Beke enters British food service industry

12/09/2017

Belgian food group Ter Beke has acquired a 90 % stake in British competitor KK Fine Foods for an undisclosed fee. The current shareholders hold onto the other 10 %.

Godiva wants to conquer the world through supermarkets

12/09/2017

Belgian praline brand Godiva will soon sell its chocolate in supermarkets all over the world after signing a deal with chains like Albert Heijn and Sainsbury’s. Previously, it sold nearly all its chocolate through its own store network.

Insight: Xavier Piesvaux' seven labours at Delhaize

10/09/2017

Can one French and several Dutch managers do what the Belgian management failed to do these past few years at Delhaize Belgium? Its new CEO will face plenty of challenges: we count at least seven.

Nestlé USA acquires food manufacturer Sweet Earth

08/09/2017

Nestlé USA has acquired American Sweet Earth for an undisclosed fee. The company mainly manufactures meat replacements, a rapidly-growing market, but also several frozen meals.

Back to top