Nothing is going well for Princess Tam Tam Tam and Comptoir Des Cotonniers. The two brands ready to use requested, on Friday, June 20, their investment in judicial administration in accordance with the information of the AFP, confirmed to BFM Business by Elodie Ferrier Federal Secretary of Commerce and the services of CGT.
Flaz with the Court of Economic Activities of Paris (Ex-Distribute del Comercio), this request was motivated by “the continuation of the financial deterioration” of the accounts of the two brands that belong to the Japanese group retailing retailing, whose flagship brand is unique. And this, “in a market context that has not improved,” this source told AFP.
Store closures and employment cuts
Already in 2023, the group had considered the closure of 55 shopping stores des cotonniers and princess tam tam tam in a total of 136 in France, as well as the abolition of 304 publications for these two brands. At that time, the objective was to “continue adapting to retail to changes in the clothing market and stop the serious difficulties found by the company and its subsidiaries to guarantee its sustainability,” according to the group.
To this was added the abolition of 119 positions within France in retailing fast “to adapt the workforce to the reorganization of the distribution network, but also to reduce its overestimation.”
Despite this drastic reduction in registration and stores, the two brands did not resist the crisis that hits the brands ready to use in the average range, hated by the emergence of “ultra fast fashion” and second hand. And this, despite the fact that the clothing sector has already been weakened by the Covid-19 pandemic, inflation, the increase in energy costs, raw materials, rentals and wages.
Kookai, Burton de London, Gap France, André, San Marina, Kaporal, Jennyfer, from the same to the same, Sergeant Mayor, Esprit, C&A, NAF NAF … None of these brands came out Indisco. Some have closed and licensed stores, others requested a recovery in the judicial administration. Some had to resolve to be purely and simply liquidated, which was the case of the famous Camaïeu brand that, however, was relaunched by Celio at the end of summer 2024.
Source: BFM TV
