×
51 769
Fashion Jobs
ADIDAS
Senior Manager Buying (Concept Stores)
Permanent · Portland
NEW BALANCE
Loss Prevention Officer (Day Shift)
Permanent · Skowhegan
L'OREAL GROUP
Mgr/sr Manager-Demand Planner
Permanent · Newport Beach
L'OREAL GROUP
Kiehl's Since 1851 - Director of Ecommerce
Permanent · New York
L'OREAL GROUP
Salon Business Partner (Saloncentric) - Troy, mi
Permanent · Troy
ABERCROMBIE AND FITCH CO.
Asset Protection Investigator
Permanent · Concord
OLD NAVY
Asset Protection Lead - Outlts @ Little Rock
Permanent · Little Rock
OLD NAVY
Assistant General Manager, Merchandising - Northcross
Permanent · Huntersville
OLD NAVY
External Asset Protection Lead - Franklin Park
Permanent · Toledo
OLD NAVY
General Manager - Four Flaggs
Permanent · Niles
OLD NAVY
Assistant General Manager, Merchandising - Crossings of Decatur
Permanent · Decatur
OLD NAVY
Assistant General Manager - Festival Mkt@Dogwood
Permanent · Flowood
OLD NAVY
General Manager - Barrow Crossing
Permanent · Bethlehem
OLD NAVY
Asset Protection Service Representative -Sports Arena Plaza
Permanent · San Diego
OLD NAVY
Buyer, Girl's, Outlet
Permanent · San Francisco
OLD NAVY
Asset Protection Agent - Fulton Street
Permanent · New York
OLD NAVY
General Manager - Franklin Park
Permanent · Spokane
OLD NAVY
Assistant General Manager, Merchandising - Brickyard Square (New Store)
Permanent · Epping
OLD NAVY
Assistant General Manager - Eagan Promenade
Permanent · Eagan
OLD NAVY
General Manager - Conyers Crossroads
Permanent · Conyers
OLD NAVY
Asset Protection Manager - Utah
Permanent · Salt Lake City
OLD NAVY
Assistant General Manager, Merchandising - Bradford Plaza
Permanent · Stillwater
By
Reuters API
Published
Mar 16, 2017
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Head of French retailer Vivarte says has reached deal on debt

By
Reuters API
Published
Mar 16, 2017

Private-equity backed French clothing retailer Vivarte, in talks to restructure more than 1.3 billion euros ($1.4 billion) of debt, has sealed a deal with its lenders, chairman and chief executive Patrick Puy told French newspaper Les Echos.


Concept store André - Vivarte


Vivarte, which has put up several of its brands for sale under the restructuring, could announce the sale of its Pataugas shoe brand to a private investor within two weeks, he added.

The debt restructuring plan, which was agreed by all of the retailer's 172 creditors, calls for the conversion of 846 million euros of debt into equity.

This leaves Vivarte with 572 million euros of debt, whose maturity has been extended to 2021, and which creditors have agreed to waive if this became necessary.

"The matter of Vivarte's debt is definitively settled," Puy said in the interview with Les Echos.

Vivarte, whose brands include Kookai, La Halle, Caroll, Minelli and Chevignon, has been owned since 2014 by a group led by investment funds Alcentra, Babson, Oaktree and GLG Partners.

The company, whose profits and sales have fallen amid competition from larger clothing retail chains such as H&M , Kiabi and Primark, has been trying to restructure its business for several years.

It is currently seeking to sell Kookai, Chevignon, Pataugas, Andre, Naf Naf and Spanish shoe brand Merkal.
Chevignon was drawing interest from private buyers and Kookai from industrial investors and private equity groups, while the sale of Merkal to an industrial investor could be sealed soon, Puy said.

($1 = 0.9334 euros)
 

© Thomson Reuters 2021 All rights reserved.