Orchestra Prémaman taken at the bar of the court by her boss

The tribunal de commerce of Montpellier has opted for the project of recovery of Pierre Mestre, executive officer, founder and main shareholder of the brand of clothing.

By Guillaume Mollaret

A store Orchestra, in the town of Alençon.
A store Orchestra, in the town of Alençon. Capture Google Maps

The decision will shake the small world of experts of the enterprises in difficulty. Called to decide the future of the Orchestra Prémaman, the tribunal de commerce of Montpellier has chosen the takeover offer presented by Pierre Mestre, executive officer, founder and main shareholder of the brand of clothing for babies, in receivership since April 29. He therefore rejected the saudi Al-Othaim, supplier and shareholder (4,03%) of Orchestra Prémaman.

Pierre Mestre takes advantage of the order of 20 may, which facilitates recovery through a plan to transfer a company into receivership by its leader. Observers of the folder believe that the spirit of the law is diverted, to the extent that there was an alternative offer and where the operation allows the officer to continue the adventure at little expense after settlement of the liabilities of the group (eur 500 million).

In the entourage of Peter Mestre, who founded the Orchestra in 1995, it was noted that his offer is better-telling than that of saudi arabia: it allows you to take a 430 stores, of save 3 769 jobs and provides funding for 176 million euros.

The offer of Pierre Mestre has received the support of 37 providers and its main frameworks, which no doubt weighed in the decision of the tribunal. 2136 jobs are saved in France. The price paid by Pierre Mestre and its partners to redeem Orchestra amounted to 71 million euros.

Friday afternoon, the Bobigny commercial court has confirmed the recovery of Naf Naf by the group Sy Corporate France, property of the businessman Selçuk Yilmaz. He promises to preserve 944 jobs out of a total of 1 170.

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