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The ready-to-wear company Camaïeu placed in receivership

Camaïeu, French chain of clothing stores – Mychèle Daniau AFP / Archives

The ready-to-wear company Camaïeu, which has some 3,900 employees in France including 450 at the head office in Roubaix (North), was placed in receivership Tuesday by the Commercial Court of Lille, we learned from consistent sources.

“Camaïeu was placed in receivership Tuesday morning with a six-month observation period,” Thierry Siwik, CGT union delegate, told AFP, confirming information from La Voix du Nord.

“Heavily impacted by the health crisis and lack of a loan guaranteed by the State (PGE) which would have enabled it to overcome its impact on the activity, Camaïeu was placed under the protection of the Commercial Court of Lille”, in view “of its receivership,” said a source close to management.

“The Covid crisis was the trigger for the cash flow difficulties. Obtaining an EMP would have made it possible to cope with it and complete the financing in order to continue the transformation started in October, “the source said.

95% drop in turnover

In early March, she said, “the company had started to implement its transformation plan and a financing agreement was about to be concluded with shareholders and banks”, but “the health crisis has forced the group to brutally close over 800 stores around the world. ” “Its turnover has dropped 95%, a loss of 162 million euros,” she said.

“It is therefore under the protection of the court that all avenues can be explored, including that of a recovery plan,” the source added.

Thierry Siwik denounced him “a disguised social plan” at Camaïeu which has lasted “for several years”. “Each month, for three years, we have been told, on the grounds of a drop in activity, between four and five store closings, this avoids carrying out a social plan (…) For us, there is a strategy of on the part of the management to place Camaïeu in receivership, for us they do that to restructure the company in depth and we fear many layoffs, “he said.

Founded in 1984, Camaïeu relies on a network of 634 stores in France.



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