2024-01-12 18:25:13
On Wednesday January 10, the Bordeaux commercial court studied the safeguard plan for around twenty (1) affiliated Galeries Lafayette stores, operated by Hermione Retail, a subsidiary of Hermione People and Brand, owned by the Bordeaux Ohayon family. .
On Wednesday January 10, the Bordeaux commercial court studied the safeguard plan for around twenty (1) affiliated Galeries Lafayette stores, operated by Hermione Retail, a subsidiary of Hermione People and Brand, owned by the Bordeaux Ohayon family. The date of January 19 was then mentioned by the employees’ lawyer as a potential deadline for the presentation, by management, of the continuation plan. Since the hearing, the schedule has become clearer.
As the end of the safeguard period – February 22, 2024 – approaches, Stéphane Kadri, lawyer for the employees and the elected CFDT representatives clarified that the commercial court has, in fact, summoned the management of Hermione Retail, which does not want to speak, to present, as of this Friday, January 12, a plan supplemented in particular by a timetable showing its capacity to settle its debt over ten years.
Debt negotiation
As a reminder, this debt currently amounts to 153 million euros and the management, which has also seen its cash flow decline by 10 million euros in one year, hopes – this is one of the strong points of its plan of safeguard – obtain from creditors the abandonment of 70% of this sum.
“In fact, on January 17, the commercial court will set a new hearing date during which the validity of the safeguard plan will be truly discussed, in particular depending on the position that will be expressed by the creditors [ils ont un mois maximum pour donner leur avis, NDLR] about her. The adoption or rejection of the plan will therefore be known at the end of this future hearing,” explains Maître Stéphane Kadri.
(1) Agen, Amiens, Angoulême, Bayonne, Beauvais, Belfort, Besançon, Caen, Cannes, Chalon-sur-Saône, Chambéry, Dax, La Roche-sur-Yon, La Rochelle, Libourne, Lorient, Montauban, Niort, Pau , Rosny, Rouen, Saintes, Tarbes, Toulon and Tours.
1705120574
#timetable #examining #safeguard #plan #clearer