Economic times continue to be very difficult for André. The shoes was once again placed in receivership on April 30 by the Paris Commercial Court, according to the decision consulted by AFP, confirming information from the specialized Fashion Network site.
This is the third time in five years for this ready-to-wear brand bought in 2023 by a Belgian company (Optakare) and which, according to information from the Commercial Court, currently employs 99 people.
The shops remain open
The placement in receivership aims to “accelerate the restructuring initiated several months ago” and “aims to present a continuation plan once the restructuring is finalized”, according to a press release from the company New André published on Linkedin. “Our shops, our corner at Galeries Lafayette Haussmann in Paris, as well as our website, remain open” during the procedure, said the brand.
The brand, which had been taken over in 2023 by the Belgian businessman Karim Redjal at the end of a previous receivership, achieved a turnover of more than 11 million euros, according to the Commercial Court of Paris.
-The hard blow of the COVID-19
Over the criminal rectification, the more than a hundred -year -old French brand has reduced the sail, now having only 16 points of sale, according to Fashion Network. It had been taken over in 2020 by the company 1Monde9 by François Feijoo, himself a former CEO of the brand. The number of stores had thus been divided by more than two, François Feijoo keeping only 55 stores (on 180 points of sale then) and 13 affiliates. It was previously held by the Spartoo online sales site, and even earlier, by the old flagship of French textiles Vivarte, which was originally called Groupe André.
Our Economy file
André had been the first distribution company to have been placed in receivership due to the COVVI-19 crisis. She had left her stores closed for long months.
