Administration news and archive

Fashion label Jott draws 15 takeover bids following bankruptcy filing

Around 15 potential buyers have submitted takeover bids for Jott, the Marseille-France based apparel brand famous for its colourful, lightweight puffer jackets. The company, whose name stands for "Just Over The Top," was placed into receivership by the Marseille Economic Affairs Tribunal in December. Despite its financial struggles, management...

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Okaïdi files for administration for its French operations

The IDKIDS group, owner of the childrenswear brand Okaïdi, announced on Tuesday that it is filing for administration for its French operations. The group employs 2,000 people in France. A hearing will take place in February before the Lille Métropole commercial court, IDKIDS told AFP. The filing concerns the brands Obaïbi (for ages 0 to 3), Okaï...

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Eterna files for self-administration proceedings

Eterna Mode GmbH has filed for insolvency under self-administration at Passau District Court. The aim of the proceedings is to implement the final milestone in the transformation of the Passau-based shirt and blouse specialist. This includes the complete outsourcing of logistics as well as the sale and leaseback of the company premises, Eterna...

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Claire's France: two takeover bids approved by court, half of employees retained

The Paris Commercial Court approved two partial takeover bids for the Claire's brand in France on Friday. The company was placed in administration at the end of July, lawyers for the staff representatives told AFP on Monday. The lawyers detailed that around 450 out of 830 employees will be taken on by two companies. The vast majority will be...

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Two very partial takeover bids for footwear brand André

Two very partial takeover bids for the footwear brand André, which has been in administration since the end of April, were published on Thursday by the Paris Commercial Court. The first of these bids comes from the Brittany-based group Beaumanoir, owner of Sarenza, which has previously acquired Naf Naf, Jennyfer and La Halle. Beaumanoir,...

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IKKS enters administration, over 1,000 jobs at risk

Fashion brand IKKS has been placed into administration. This procedure puts over 1,000 jobs at the group at risk, AFP learned on Friday from the Paris Commercial Court, confirming a report from Les Echos. The brand, which had ceased payments and was already facing difficulties a few years ago, secured a debt waiver from its creditors in 2024....

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Jewellery chain Claire's enters administration in France

The French subsidiary of Claire’s, the low-cost jewellery and accessories retailer, has been placed into receivership. This was confirmed on Monday to AFP by the lawyer representing the staff, corroborating information from local radio station Delta FM. The brand, known for its earrings, piercings, and accessories aimed at teenagers, operated...

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Princesse tam tam and Comptoir des Cotonniers placed in administration

Paris - The crisis continues in French ready-to-wear. Lingerie brand Princesse tam tam and clothing brand Comptoir des Cotonniers have entered administration. AFP learned this on Wednesday from a source close to the matter. Struggling for several years, these two brands have found it difficult to withstand "a market context that has not...

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British fashion label Amanda Wakeley falls into administration

British fashion designer Amanda Wakeley’s eponymous label has fallen into administration after failing to find a buyer, becoming the latest casualty of the Covid-19 pandemic. Joint administrators from Smith & Williamson LLP said the company’s trading performance “suffered” due to the pandemic, in particular at its Mayfair store and concessions...

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Ralph & Russo likely to be bought by Gulf investor

Ralph & Russo, the British haute couture house that went into administration last month, is likely to be bought by a Gulf-based owner. Several buyers from UAE and Qatar are thought to be bidding for the British dressmaker, according to Arabian Business. The fashion house, a favourite amongst a Middle Eastern clientele, has boutiques in both...

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Ralph & Russo likely to be bought by Gulf investor

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New audit rules could prevent companies like BHS and Arcadia Group from administration

After several high profile company collapses - from BHS to Arcadia to Debenhams - new audit reforms and corporate governance is meant to avoid company failures and safeguard British jobs in the future. The proposed reforms would break up the dominance of the “big four” audit firms and strengthen the UK’s position as a world-class destination for...