European Topsoho, owner of the SMCP group and a subsidiary of China's troubled Shandong Ruyi group, seems unable to repay its bond debt maturing on Tuesday, and its creditors might acquire a stake in the company.
The French cosmetics group has been placed into judicial receivership for a period of six months. The group’s sale is currently being considered, a few weeks ahead of the publication of its Q2 results.
Eric and Michael Dayan, co-founders of Showroomprivé, who bought the rights to the Sonia Rykiel brand after the label's liquidation, are another instance of e-entrepreneurs taking over a renowned French fashion label.
On Monday, the French group (owner of Caroll and La Halle) announced the appointment of the former Brice boss to work alongside new president Patrick Puy, who led the group's comprehensive restructuring effort.
French clothing retailer Vivarte, which is aiming to restructure more than 1.3 billion euros of debt, has agreed to offload its Kookai brand to Australian company Magi as part of Vivarte's ongoing sell-off programme.
Private-equity backed French clothing retailer Vivarte, which is aiming to restructure more than 1.3 billion euros (1.08 billion pounds) of debt, has agreed to sell its Pataugas shoe brand to Hopps Group.