Marithé & François Girbaud closes both Belgian stores

Marithé & François Girbaud closes both Belgian stores

French fashion label Marithé & François Girbaud is forced to close eight stores because of bankruptcy. The two Belgian stores, in Antwerp and Brussels, have to close as well. In total, some 80 people lose their job.

Three bankrupted companies

The label’s eight own stores - five in Paris, one in Lyon and two in Belgium – have been closed with a possible take-over in mind, but ten franchise stores are still open. After a Parisian commercial court had declared the three companies responsible for the production and distribution to be bankrupt, store shutdowns were unavoidable.

 

The denim brand was founded in the seventies and was a pioneer in ‘stone washing’, but had been struggling since 2008. Its American operations took a beating, leading to losses and the company filing for Chapter 11 bankruptcy (triggering creditor protection). American business bank Rothschild was asked by the end of 2011 to look for possible buyers or new partners.

 

Eventually Indian Fibres & Fabrics International ‘saved’ the brand, but to no avail. CEO Denis Noharet believes the brand can re-ignite at the end of 2013 or the beginning of 2014, with the support of founders Marithé Bachellerie and François Girbaud and with the assistance of an international group. There has been no confirmation yet about who that specific partner is, even though talks are still ongoing according to Noharet.

 

 

(translated by Gary Peeters)

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