New twist of fate for Pimkie, which narrowly comes close to recovery or liquidation, as Camaïeu was unable to escape in 2022.
Announced by AFP, the judgment rendered by the Lille commercial court provides for a two-year backup plan, which will hopefully allow Pimkie to turn things around.
Pimkie narrowly comes close to receivership or liquidation
Difficult year for
Pimkiewho, last May, asked to be placed in
backup procedure speak
Lille commercial court. A first. The Nordic fashion brand hoped to “be able to negotiate the termination of certain leases or contractual conditions relating to logistics and energy“, as she indicated. This legal approach aimed at continuing her “reorganization process in the best conditions” and to ensure “the sustainability of the company“.
According to Salih Halassi, president of Pimkie, “the decision to resort to a safeguard procedure“resulted”a desire to take proactive measures to secure the future of our business by accelerating restructuring“, as mentioned in a press release at the time of the events. The latter estimated that the elimination of certain positions could help the company to maintain itself, even if Pimkie “still has significant cash flow“. To make matters worse, the brand had faced other difficulties, having also suffered a cyberattack as confirmed Le Figaro et
The Voice of the North.
photo credit: Shutterstock
The Lille commercial court ratifies the plan continuation of Pimkie, for a period of two years
This transitional period was obviously not enough for the brand to get back on track, since it has just, for the second time, had the acceptance of a plan de
continuationlasting two years, ending the observation period requested last May, which served to take stock on the situation of the company. This Thursday, AFP received confirmation of the validation of the continuation plan of
Pimkie.
According to the information collected, the Lille commercial court hopes “ clearance of liabilities and a return to profitability from 2026 “. A hope shared with Marie-Annick Merceur, the CFDT union representative, who underlines a “a positive sign“while contrasting that “ 2025 will be a pivotal year » for society.
Economic difficulties which have somewhat weakened the brand. Indeed, Pimkie had filed for bankruptcy
in Austria and Belgium in March 2021, as reported
Fashion Network. In France, Pimkie still had 1,303 employees and 200 owned or franchised stores, in July 2024, as specified in the judgment of the Lille commercial court. The future will tell us whether it will brighten or darken for the women's ready-to-wear brand founded by Gérard Mulliez in 1971, which until now has always been able to get back on its feet.
