European Topsoho, owner of the SMCP group and a subsidiary of China's troubled Shandong Ruyi group, seems unable to repay its bond debt maturing on Tuesday, and its creditors might acquire a stake in the company.
The French cosmetics group has been placed into judicial receivership for a period of six months. The group’s sale is currently being considered, a few weeks ahead of the publication of its Q2 results.
A French trade court has given the green light to the acquisition of the womenswear retailer, currently in receivership, by its Turkish supplier SY International, which plans to save 944 of Naf Naf’s 1,170 jobs.
Eric and Michael Dayan, co-founders of Showroomprivé, who bought the rights to the Sonia Rykiel brand after the label's liquidation, are another instance of e-entrepreneurs taking over a renowned French fashion label.
On Monday, the French group (owner of Caroll and La Halle) announced the appointment of the former Brice boss to work alongside new president Patrick Puy, who led the group's comprehensive restructuring effort.