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A famous clothing brand goes bankrupt

  • Post category:Economy News
  • Reading time:4 mins read

The Belgian subsidiary of Camaïeu, which had 25 points of sale in Belgium, had lowered the curtain in the summer of 2020.


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Lhe ready-to-wear brand Camaieu was placed in compulsory liquidation on Wednesday by the Lille commercial court, which will lead to the elimination of 2,600 jobs in the company, two years after its takeover by its shareholder. “The court converts the recovery into judicial liquidation,” said its president, arousing the tears of the employees who came to listen to the deliberations.

The Belgian subsidiary of Camaïeu, which had 25 points of sale in Belgium, had lowered the curtain in the summer of 2020.

The shareholder, Hermione People and Brands (HPB), still seemed to believe on Wednesday in a favorable outcome for the brand, placed in receivership on August 1. The plan presented to the court would have limited the damage, with 500 jobs lost.

He said he was ready in the morning, like the Hauts-de-France region, to inject more money to avoid liquidation, but on condition that the State also provides financial support.

“The shareholder is ready to settle in a round table with additional financing”, had assured the management of HPB, its president, Wilhelm Hubner, calling “all public actors, State and local authorities” to a “urgent meeting”.

HPB had indicated on Monday that it had requested an advance of 48 million euros from the State, but the Ministry of Finance had judged that this request was not “realistic”, the State being unable “in no case to replace the shareholders “.

The shareholder hoped to gain some time to relaunch his brand, heckled by the health crisis and a costly cyberattack. A total of 79.2 million euros was needed, according to HPB, over the next eight months to ensure, among other things, purchases for the autumn-winter season and to prepare the spring collection.

By taking over 511 of the brand’s 634 stores in France and some 2,600 employees out of more than 3,100, HPB had given itself two years in 2020 to restore balance to the brand, founded in 1984.