Monochrome, the company's ready-to-wear specializing in women's clothing was placed Tuesday, may 26 legal redress on the decision of the court of commerce of Lille, told Agence France-Presse several sources. The company hiring at the present time 3 900 employees in France, including 450 in the head office in Roubaix (North). "The cameo has been placed in receivership on Tuesday morning with an observation period of six months," revealed Thierry Siwik, a trade union delegate CGT, confirming information of the Voice of The North.
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" Heavily impacted by the health crisis, and in the absence of a loan guaranteed by the State (PGE), which would have allowed it to overcome its impact on the activity, the Cameo has been placed under the protection of the tribunal de commerce de Lille ", in view of its implementation into receivership ", says a source close to the management. "The crisis Covid has been the trigger of the difficulties of cash flow. Getting an EMP would have allowed to cope and to complete the funding to continue the transformation begun in October ", said this source.
"Its turnover has fallen to 95 %"
at the Beginning of march, she said, " the company had started to implement its transformation plan and a funding agreement was about to be concluded with the shareholders and the banks ", but " the health crisis has forced the group to close brutally over 800 stores in the world." "Its revenue has fallen by 95 %, a shortfall of 162 million euros," she said. "It is thus under the protection of the tribunal that could be explored all the tracks, including a recovery plan ", further stated this source.
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Thierry Siwik has denounced "a social plan in disguise" in a Cameo that lasts " for several years ". "Each month, for the past three years, we are told, because of a decline in activity, between four and five store closures, this avoids to conduct a social plan [...]. For us, there is a strategy on the part of management to place the Cameo into receivership, for us, they do it for a major restructuring of the company and it is feared many redundancies ", he said. Founded in 1984, Camaieu relies on a network of 634 stores in France.
