Employees “outraged by the management and culpable negligence of HPB, directly responsible for the very harsh situation of the company.”
In a press release, the representatives of the Gap France works council do not have strong enough words to describe the management of the company by HPB, the Retail subsidiary of Michel Ohayon’s group. As a reminder, the ready-to-wear brand was placed in receivership on Wednesday.
And to explain: “on the one hand, despite the alerts raised for several months, the group has refused until last week to place the company under the guardianship of the Mercantile Court. The default statement has been filed too late, greatly reducing the time to find solutions and depriving the company of recovery opportunities.”
“Overwhelming” Responsibility
“On the other hand, the funds were returned to the shareholder without a clear justification and were never reimbursed,” the elected officials question.
From now on, the CSE expects a short-term solution “with a buyer with the financial capacity to give the company a sustainable turn.” Because the responsibility is colossal.
“The declaration of cessation of payments was made on the basis of a financial analysis that shows available assets of 378,856 euros and payable liabilities of 26.2 million euros, so the difference between available assets and payable liabilities is negative amounting to 25.9 million euros, ”François Touret de Coucy, deputy prosecutor at the Grenoble Commercial Court, said on Wednesday.
Gap France employs 360 people in 20 franchised stores.
Source: BFM TV
