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


Losses keep growing for HelloFresh

14/08/2017

Over the course of the first half of 2017, meal box delivery service HelloFresh has seen both its turnover and its losses grow significantly. This gives mixed messages in the preparation of its IPO, which is planned for the fall of 2017 to create room for more investments.

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.

Back to top