Orchestra-Prémaman has filed for receivership: the French children's clothing chain is only one more step away from bankruptcy. The chain is looking for a new buyer, hoping they will bring a new future.
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French baby store chain Orchestra-Prémaman is taking drastic measures in Belgium: it has announced 22 store closures, to come on top of the 12 already planned. As a result, the chain will keep only 19 stores and 200 jobs.
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The ailing French baby and children’s retail chain Orchestra-Prémaman saw its turnover increase slightly in the first nine months of the financial year. However, the way this was achieved is by no means a reason for celebration.
French chain Orchestra-Prémaman, which specialises in clothing for baby and children, will be protected against creditors over the next six months - a period that can be extended to eighteen months if needed.
Orchestra-Prémaman has had an awful financial year, in which turnover went down and losses quadrupled for the children's clothing chain. Especially on its French home market, the situation is dire.
French baby and children store chain Orchestra-Prémaman has found an agreement with its most important creditors to delay the refunding of debts by two years.
French Orchestra-Premaman has offered to acquire American Destination Maternity. As one company, they will become one of the largest global groups focused on clothing for pregnant women and small children.