Claire has not yet been taken from a business. The Paris Economic Activity Court kept the French subsidiary of the Bijoux Claire’s brand in judicial administration on Thursday after three companies have presented an acquisition offer considered “very minimalist” by lawyers for staff representatives.
Justice had opened at the end of July a judicial administration procedure for the France of Claire, which management justified by the continuous decrease in store sales for several years, accelerated by US customs’ tasks in Chinese products, to which Claire is massive.
Then he opened an observation period, which the court decided on Thursday to keep until the end of January after calling for tenders for a partial recovery of the assets, when he had the possibility of immediately pronouncing the liquidation.
Three offers were presented, at AFP Khaled Meziani and Eve Ouanson, lawyers representing staff, Wednesday without revealing the identity of potential buyers.
Offers consider “very minimalist”, in particular with respect to employment.
For me, Meziani, “what interests buyers, is not necessarily Claire’s products, are especially store locations,” which could mean the disappearance of the Claire’s brand in France.
According to a source close to the file, the court could validate at the end of October one of the partial recovery offers.
250 stores and between 800 and 1,000 jobs in danger
Present at the audience on Wednesday dressed in the shirt of their employees, Claire employees showed their concerns.
The brand, known for its elegant earrings, piercings and accessories for adolescents, had about 2024 around 250 stores and between 800 and 1,000 employees, according to the latest published accounts.
The latter showed that the subsidiary had released 1.3 million euros in net profits between the late 2023 and final 2024, and 0.8 million in the previous financial year.
The personnel representatives reported in early September to the courts of the events that describe “serious irregularities in the company’s administration”, accusing the US parent company of having “emptied the funds” through “financial flows” among the many subsidiaries of the group.
Claire’s France management refused to respond to AFP requests.
Source: BFM TV
