The ready-to-wear group Kaporal, a French clothing brand specializing in jeans, has been officially placed in receivership, according to a decision by the Marseille commercial court. The brand, whose headquarters are in Marseille and which employs around 530 people and has 113 stores in France, had requested this placement earlier this week to face “unprecedented economic difficulties”.
The commercial court of Marseille “pronounces on March 30, 2023 the opening of a judicial administration procedure” against Kaporal, in “cessation of payments on March 10, 2023”, explains the sentence. The latter also opened a six-month observation period in order to protect the company and allow it to continue with its activity.
“Unpredictable and Unstoppable Outside Elements”
On Tuesday, the group explained in a press release that “for many years, society has faced unpredictable and unstoppable external elements,” citing the consequences of the “yellow vest” demonstrations, the Covid-19 pandemic, “successive strikes”, and the “inflationary shock” due in particular to the war in Ukraine. Alleging that it has not found a new investor capable of relaunching the brand, the company “can no longer assume by itself the payment of its debts. The company will thus use a legal tool made available to companies in difficulties,” he said. the group.
Created in 2004 by a Marseillaise family already specialized in jeans, the Kaporal brand reached a turnover of 99 million euros in 2022. The ready-to-wear sector in France has been rocked for several months by a violent crisis, which it has resulted in particular in the liquidation of Camaïeu in September 2022 and the bankruptcy of Go Sport, Gap France and Kookaï at the beginning of 2023. On February 20, the San Marina shoe store was placed in forced liquidation, dragging down 650 employees.
Source: BFM TV
