Galerie Lafayette: “We will not give up”

Will Gallery Lafayette close? The question is on everyone’s lips. 25 stores of the well-known brand, which still has 32 employees, Tarbes stores have been placed in a judicial protection process by the Bordeaux Commercial Court from February 22, 2023. Yesterday, we were waiting for the decision of the judiciary with certain enthusiasm. which was to rule the fate of 25 stores, all located in the urban centers of medium-sized towns such as Tarbes. Finally, the summary proceedings were adjourned till today.
Last Wednesday, the Bordeaux Commercial Court already decided to postpone for a few days the examination of the business continuity plan of the Hermion Retail group, owned by the sulfur tycoon Michel Ohion, the main shareholder of Galeries Lafayette. The group could ask its creditors to write off 70% of their debts, given the fact that financial obligations had risen to €153 million at the end of December, despite the security procedure.

There is no room for optimism on the part of the municipality

During his back-to-school press conference, Gerard Tremag apparently addressed the issue of Galeries Lafayette as a major concern for the municipality, as part of its policy to revitalize the city center. “We are following the matter very closely. , day by day” assured Pascal Clavery, his first deputy in charge of commerce, “We also found staff, who are very worried. » But clearly, optimism is not in order.

“There are three solutions,” he continues, “either the court announces the closing of the Tarbs store, or it is liquidation with the search for a buyer, but there remains another possibility, called in the legal trade, “in bonis”. , if the owner, Mr. Ohioan, comes forward with €15M, the court can order the continuation of the safeguard plan. » Unlikely, because the first part of the backup plan resulted in an additional loss of about €7 million, while we were in the holiday period. ..

“a key symbol”

For Pascal Clavery, the closing of the Galeries Lafayette would be “a disaster that would wipe out all the efforts we made to support commerce with telement tarbs and merchants. Unfortunately, although we can create the necessary conditions, we cannot replace the brands. »
Gerard Temag continued: “We will not give up. But it’s off to a bad start. In Pau, the Galerie Lafayette closed without further ado, and François Berrou expressed his desire to purchase the building, either through the city or the urban community. Of course, I sincerely hope that Galerie Lafayette is preserved, and that activity continues. But if Galeries Lafayette unfortunately disappears, we will do everything, and I mean everything, to ensure that this building remains a commercial center. .because it is the main symbol of the city center of Tarbes, an institution. 11,000 square meters of commercial space, 34 jobs, and even 50 if we count the employees of the “corner”, it cannot disappear. I repeat, we will do everything by bringing public and private investors together so that this commercial center does not disappear. »