Overview
- The Paris economic tribunal validated the bid led by Santiago Cucci with backing from Michaël Benabou’s Financière Saint‑James.
- The plan retains 546 of 1,094 French jobs and 119 sales points, while roughly half the workforce will be laid off.
- Assets taken over include 92 company‑owned stores with 341 jobs, 27 Galeries Lafayette corners with 44 jobs, and 161 positions at headquarters.
- Financial terms set a €700,000 sale price, a short‑term €16 million cash injection, and €700,000 for the employee protection plan.
- Store closures and destocking have already started, with unions calling the choice the best available in a market pressured by second‑hand and ultra‑fast fashion.