The Galeries Lafayette group, which owns, among other things, the Paris store on Boulevard Haussmann, sent out a message to its customers on Monday to reassure them of the current situation, while about twenty regional Galeries Lafayette stores controlled by Michel Ohayon need to be rescued.
The galleries intend to “clarify certain destabilizing information” that their customers may have “learned over the past few days regarding Galeries Lafayette,” this message, directed at loyalty card holders, indicates, according to the LSA trade publication, which has first reported on Monday.
“For several months, Hermione, People & Brands, which has owned and operated 25 Galerie Lafayette affiliated stores in the provinces since 2018, has been facing unprecedented difficulties with some of its assets such as Camaïeu, Go Sport or Gap,” the group writes. Osman Boulevard, which confirmed the content of this message. “Today, in order to protect the 25 provincial stores they own, Hermione, People & Brands and its owner Michelle Ohayon requested protective action against these said stores, which are still in operation today.”
“This unsettling and unsettling situation has nothing to do with your Galeries Lafayette store in Paris, Haussmann.”
The safeguard procedure is designed for companies whose cash flows are no longer sufficient to pay off their debts, but which have not yet stopped paying, so that they can maintain their economic activity, jobs and ensure the payment of their debts. “This worrying and disturbing situation does not in any way concern your Galeries Lafayette store in Paris, Haussmann” or the site “gallerieslafayette.com,” the group explains further in its message.
Bordeaux-based businessman Michel Ohayon, who made his fortune in real estate before buying retail chains such as Camaïeu, Go Sport, Gap France or Galeries Lafayette regional stores, has been in turmoil for weeks.
Camaille was violently liquidated in September, leaving 2,600 employees jobless, the Grenoble commercial court declared Go Sport in receivership, and Gap France employees exercised the right to economic alarm, as did approximately 750 employees of Hermione Retail, a company that includes Galeries Lafayette. owned by Michel Ohayon.
Source: Le Parisien
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