Less than a year after its acquisition, the NAF NAF brand is officially placed in judicial administration, 600 threatened jobs

The female brand ready to use NAF NAF, which uses almost 600 people, was placed on Friday bankrupt, facing “cash difficulties”, we learned from sources close to the file. This is the third procedure in this way for the French company, but its Turkish management said it wanted to “continue making the brand exist and present a recovery plan,” according to the decision of the commercial court. The company employs 588 employees in France-650 in the last 6 months, said Bobigny’s commercial court (Seine-Saint-Denis).

Justice has motivated the placement in the judicial administration arguing “that the company faces cash difficulties that cannot be overcome” and that “it cannot deal with its responsibility to pay with its available assets.” In fact, its liabilities amount to 44 million euros when their turnover in 2024 reached 47 million euros.

But the court estimated that “about the debtor’s statements and the presentation of his provisional activity, as well as the amount of available cash flow, there are recovery perspectives.” Therefore, the company benefits from a six -month observation period and its situation will be restarted during an audience set for July 23.

The CFDT fears “a great period of uncertainty”

In June 2024, Turkish buyer Migiboy Tekstil promised to save 90% of the works and keep a hundred clean stores. At that time, the company offered more than 1.5 million euros to take care of the French brand. In doing so, the Turkish company had saved 521 jobs from 586 and one hundred stores in France, and resumed subsidiaries in Spain, Italy and Belgium. “If this trial at the moment dismisses the immediate liquidation of the company, opens a great period of uncertainty,” the CFDT moved in a press release.

The stores “will be supplied because there are 800,000 items in shares and the company flows 140,000 items per month,” argued management in the court. But even if this recovery plan results in “a drastic reorganization with store closures and a new reduction in the seat is very likely,” said the CFDT. Without counting the disaster scenario: “On the contrary, if these conditions are not met, a liquidation will appear with the sale to the most offered stores and the brand, with a disastrous social impact.”