In receivership, a glimmer of hope for a Cameo ? - The Point

The ensign Cameo will survive in the storm ? Placed into receivership several weeks ago, the brand of ready-to-wear women's struggle for the retention of almos

In receivership, a glimmer of hope for a Cameo ? - The Point

The ensign Cameo will survive in the storm ? Placed into receivership several weeks ago, the brand of ready-to-wear women's struggle for the retention of almost 4,000 jobs. Wednesday, according to several sources, no fewer than seven offers to purchase, five partial and two complete, were presented before the tribunal de commerce of Lille. A final hearing must be held on the 24th of July next. A first complete offering has been made by the current management of the company in assocation with three investment funds already shareholders of the sign, namely, HVAC, Farallon and GoldenTree.

The second emanates from the Land real estate bordelaise (FIB), investment funds specialized in the commercial real estate of the businessman Michel Ohayon, which has acquired 22 franchise of Galeries Lafayette de province in 2018. Five other partial bids on some stores were presented, of source association and according to the spokesperson of the offer made by the management. They are, according to this last source, Casino, Grain de Malice (galaxy Mulliez), Fullstore, Aerts and logistician Log's, the latter being linked to the offer by the management which would not the warehouse but the it would put.

offers which can be refined until July 22

In detail, the offer of the management, led by the current and recent CEO Joannes Soënen, would be funded to the tune of € 30 million on equity and € 45 million for a loan guaranteed by the State, for a sales price of two million euros. This project provides "for the moment" the recovery of 1 948 jobs and 367 stores, but "can go up to a hundred shops in addition to", in case of renegotiation successful in the amount of the lease and as a function of alliances with the other candidates of partial bids. "It would be to form a consortium," according to the spokesperson of the offer to the Agence France-Presse, who believes that "the current scope is no longer bearable" and that "the model must be challenged" to aim "40 % of turnover by the multi-channel".

Read also Lille - After the Covid-19, the return of the local industry ?

According to the management of the company, the Cameo was in march, when its placement into receivership 3 900 employees, including 450 in the seat of Roubaix, to 634 stores. The spokesperson of the offer "management" refers, in him, 3 230 jobs and 632 stores, and a turnover of 570 million euros in the last fiscal year ended in march, compared with 620 million euros in 2019. For its part, the FIB would resume "500 shops and 2 649 employees," what is "rather a good surprise", according to Thierry Siwik, a trade union delegate CGT, ensuring that employees "discuss more" for this solution. "About our former leaders, were expected to offer, it is a strategy on their part to eradicate the debt and make a big social plan behind it", he added. The buyers have until 22 July to fine-tune their bids, before a hearing, 24 after which will the court.

Updated Date: 01 July 2020, 17:33

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