This is a new sign of the French garment crisis. The Burton of London brand will be liquidated, the Paris Commercial Court announced on Tuesday.
This stop is not a surprise at all. The ready-to-wear brand was scheduled to close its stores on February 10, according to Capital. From Lorient to Agen, via Vannes or Dijon, some 47 shops were to lower the Iron Curtain. The fashion brand was placed under protective custody in October 2022 and was placed into administration in June 2023.
The recovery plan has already resulted in the closure of 26 outlets in February 2023, ahead of the closure of 62 other stores. It was no longer possible to order online, and until February 10, you could only make in-store purchases.
Industry in crisis
San Marina, Caporal, Don’t Call Me Jennifer, Naf-Naf… Fashion clothing brands of the 1990s and 2000s have been experiencing serious difficulties for several years now. On February 5, the IKKS brand announced that it was considering the possibility of reducing staff and the number of stores, burdened, according to it, by the consequences of the Covid-19 crisis, inflation and the consequences of the war in Ukraine.
In September 2022, the courts declared the Camaieu brand liquidated, resulting in store closures and employee layoffs. The Kookai brand, which went into administration in February 2023, announced the closure of 20 stores a few months later. The health crisis has also hit brands already weakened by the rise of fast fashion giants such as Zara or H&M and online sales.
Source: Le Parisien
I am John Casanova. I am an author at 24 news recorder and mostly cover economy news. I have a great interest in the stock market and have been writing about it for many years. I am also interested in real estate and have written several articles on the subject. I am a very experienced investor and have a lot of knowledge to share with others.
