The Grenoble Commercial Court placed Groupe Go Sport, the parent company of Go Sport stores, in receivership on Thursday after finding the sporting goods distributor’s bankruptcy status. “By means of a solidly reasoned sentence, the court (…) verified the state of default of the Groupe Go Sport company and initiated a suspension of payment procedure,” the Grenoble public prosecutor’s office announced in a press release.
He clarified that “Go Sport France has not filed for bankruptcy, but its situation will be affected by that of its parent company.”
This decision comes as the Grenoble public prosecutor’s office opened an investigation in November 2022 for “abuse of social property” in relation to Groupe Go Sport, after “the auditors transmitted several revelations of criminal acts.” Regarding the receivership, the prosecutor’s office explained that “two administrators and two legal representatives have been appointed for an initial observation period of six months, in order to manage the company in the best interest of the workers and creditors, under the control of judges and prosecutors.
2,160 employees
In its decision, eagerly awaited by the 2,160 employees, the court determined that Groupe Go Sport was in suspension of payments, citing the report by the firm Eight Advisory & Associés that established on January 5 a liability amounting to more than 14 millions of euros. At the end of December, after a first hearing, the courts had entrusted an investigating judge with the mission of “taking stock of the financial situation” of the group and its subsidiary Go Sport France, with the help of their audit companies. and their auditors.
This decision comes a few weeks after the liquidation of Camaïeu, which belonged to the same group (Hermione, People & Brands), the distribution branch of Financière immobilière bordelaise (FIB), an investment fund of the Bordeaux businessman Michel Ohayon. Union representatives and the central economic and social committee (CSEC) had questioned the financial health of the group, expressing alarm in particular over a €36m cash increase from Go Sport to its parent company.
Source: BFM TV
