Galeries Lafayette: We learn more about the future of the 26 stores threatened with closure
Galeries Lafayette Group accepted a revised safeguard plan proposed by businessman Michel Ohion, who owns 26 stores. The Bordeaux Commercial Court will discuss it on March 20, 2024.
What about the future of 26 Galerie Lafayette, owned by Michelle Ohio? As well as a thousand employees working there? The Bordeaux Commercial Court examined the case this Wednesday, February 21, 2024, while the stores have been placed in safeguarding procedures. A plan was proposed by a Bordeaux businessman.
Gallery Lafayette “Forgo 70% of their debt”, “Accept that the remaining 30% will be repaid in 10 years” as well “Review commission rate in two years”, Stephan Qadri, a lawyer at the Central Social and Economic Committee (CSEC) of Hermione Retail, which oversees most of the 26 stores, revealed. Parisian.
In short, Galerie Lafayette and Michel Ohayon have reached an agreement to be presented at the Bordeaux Commercial Court on March 20.
Court decision on March 20
At the same time, this night, “Growth forecast of 11% cut to 4%”The lawyer added. According to him, all creditors and agents now support the plan to continue business for the 26 Galeries Lafayette stores owned by Michelle Ohio. Galerie Lafayette did not want to comment.
As a reminder, the relevant 26 stores are present in Agen, Amiens, Angoulême, Bayonne, Beauvais, Belfort, Besançon, Caen, Cannes, Chalon-sur-Saône, Chambéry, Dax, La Roche-sur-Yon, La Rochelle, Libourne. , Lorient, Montauban, Niort, Rouen, Saintes, Tarbes, Toulon, Tours, Pau, Rosny and the Coquelles Outlet.
Michelle Ohio’s brands follow each other in announcing judicial recovery. After Go Sport, Camaïeu and FIB, Galeries Lafayettes, the leading figure of industrialists’ companies, is also the subject of such a process. The Bordeaux Commercial Court will discuss it on March 20, 2024.
