A setback for Maison Gainsbourg, in receivership – 10/03/2024 at 4:12 p.m.

Unpaid invoices, questionable management and disagreement between partners: Maison Gainsbourg in Paris is fully booked but has been placed in receivership for cessation of payment, barely a year after its opening.

On September 20, 2023, Serge Gainsbourg’s legendary lair, at 5 bis rue de Verneuil, opened its doors to the public. An accomplishment for his daughter Charlotte, owner of the place inside, preserved intact, where her father lived for 22 years and died in 1991.

Just opposite, at 14, there is a museum which traces the artist’s work and the Gainsbarre, piano bar.

Supported by public partners and the luxury brand Saint Laurent, acclaimed by the public, Maison Gainsbourg is sold out until the end of the year.

But behind this facade, its financial situation has already turned red, as revealed by L’Informé. In cessation of payments since August 9, the operating company of the private mansion of Serge Gainsbourg and its annexes (SEHPSGA), which is piloting the project, requested a placement in receivership, recorded by the commercial court of Paris on September 18, two days before blowing out its first candle.

– This d’1.5 million d’euros –

In March 2023, the court had already had to rule on a dispute between the two equal partners, namely Charlotte Gainsbourg and Dominique Dutreix, real estate developer via his company Coffim, also sentenced to a suspended sentence in the case. Elf.

Both had, however, validated “a partnership agreement”, in December 2019, agreeing that Charlotte Gainsbourg would give “no guarantee” in obtaining bank loans to carry out the development work and the operating expenses of the house and of the museum.

The SEHPSGA’s working capital was to be supplied by “associate current accounts set up exclusively by Dominique Dutreix”, specifies the agreement, stressing that he undertook to request reimbursement “when the companies are profitable” .

But the court notes that from 2022, “disputed withdrawals” of more than 482,000 euros are made between Mr. Dutreix as president of Coffim and Mr. Dutreix manager of SEHPSGA, “without the slightest notification” and in contravention of the commercial code .

These non-compliant financial transactions lead to a critical situation of accounts… which are also marred by irregularities because they have never been approved.

The company also did not benefit from the working capital necessary to launch the activity, which started without paying its suppliers and service providers: security, cleaning, trustee, electricity, accountant, etc.

The list of unpaid debts accumulates and the slate falls: the SEHPSGA, “despite a bank debt of 3.5 million euros, shows a supplier debt of approximately 1.6 million euros”, counts the court of commerce.

During the procedure, Mr. Dutreix disputed certain debts, explained that he was able to provide new bank financing and ultimately considered that the partnership agreement lacked clarity as to the obligations of the parties.

This document is however “perfectly clear”, according to the court in its order.

On March 28, the judges therefore ordered the Dutreix partner to reimburse the operating company a total amount of approximately 1.5 million euros. That is almost the equivalent of the amount of short-term debts, which led to the cessation of payments.

– “No reason” to close –

What about the future of Maison Gainsbourg, now managed by a judicial administrator?

“The company is profitable but it has accumulated an old debt linked to its start-up and it cannot cope with this debt in the short term”, declared to AFP Me Jean Aittouares, counsel to Charlotte Gainsbourg, brushing aside any hypothesis of closure .

“The revolution in this case is when Charlotte Gainsbourg realizes the sums embezzled and that creditors are not paid,” he underlines.

Contacted by AFP, Dominique Dutreix’s lawyer did not respond.

The commercial court must observe to what extent and by what means Maison Gainsbourg can extricate itself from this bad situation: it will rule on maintaining the observation phase, planned to last six months, during a hearing at the beginning of November .

At the same time, the Arteum company, mandated to manage the two places, continues its missions, despite “a strong debt” to the SEHPSGA.

“There is no reason for the museum and the house to close, we remain open and we will continue to develop” through future exhibitions, assures AFP Lorraine Dauchez, founding president of Arteum.