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


Italian gelato is European market leader

11/08/2017

Italian cuisine is revered all across the globe, with people often thinking of pizza and pasta. However, Italians also have an ironclad reputation when it comes to ice cream. This is also reflected in sales, because Italians are the European market leader.

Oprah Winfrey and Kraft Heinz join forces

10/08/2017

American tv star Oprah Winfrey has joined forces with Kraft Heinz to develop a range of “healthy and nutritious soups and side dishes”. The range, currently only available in the United States, should help Kraft Heinz generate turnover growth once more.

Ahold Delhaize continues to struggle in Belgium

09/08/2017

Belgian-Dutch supermarket group Ahold Delhaize has had a very good second quarter, with the company thinking last year's merger could result in lower costs than previously anticipated. On the other hand, Belgium's performance is still weak.

Sainsbury’s wants to cut 1,000 jobs

07/08/2017

Sainsbury’s, the second largest supermarket chain in the United Kingdom, is allegedly planning to cut 1,000 office jobs in order to save up to 500 million pounds (550 million euro).

Higher Kraft Heinz profit despite lower turnover

04/08/2017

Food company Kraft Heinz’ second quarter like-for-like turnover dropped slightly, but the American company did manage to seriously enhance its profitability.

Max Koeune becomes new McCain CEO

03/08/2017

Max Koeune will become potato processing company McCain Foods’ new CEO. The Canadian family business revealed the news after its current CEO, Belgian Dirk Van de Put, moved to the world’s largest snack manufacturer, Mondelez.

Back to top