BCBG Max Azria liquidates France subsidiary
Although a take-over bid had been submitted, the court in Romans-sur-Isère announced on Monday, October 16, the judicial liquidation of the French subsidiary of BCBG Max Azria.
Almost 250 people, including 138 employees in France (and the rest in other parts of Europe), will lose their jobs. Activity is scheduled to continue until October 31.
At the hearing on October 11, a comprehensive debt restructuring and buyout was once again mulled over by court but without conviction, and was qualified inadmissible. The planned recovery included the launch of a new brand and the maintenance of 96 jobs.
BCBG Max Azria's French subisidiary has been undergoing legal redress since March 2017, following the bankruptcy of its parent company in the United States.
Headquartered in Mercurol, BCBG operates eleven namesake stores in France, three factory outlets, one Hervé Léger unit and one Hervé Léger factory outlet in France, as well as 13 stores in Europe (Belgium, Luxembourg, Switzerland, Spain, Portugal, Morocco and Germany).
The attractive locations will no doubt interest many shoppers during liquidation, notably in Paris (Ternes, Rue du Bac, Madeleine and Victor Hugo), but also in Lyon, Bordeaux, Cannes or Saint-Tropez, while the Hervé Léger store is located on rue Cambon (Paris 1er).
In 2013, BCBG Max Azria Group in France had already suffered a setback when the brand decided to stop selling the French brand Manoukian, acquired in 2005, resulting in the loss of nearly 175 jobs.
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