Following failed efforts to find a buyer for acquisition, Paris commercial court has ruled out for the immediate liquidation of French fashion house Sonia Rykiel.
The court rejected the bid of Lévy, a Paris-based family operating in the real estate and medical sectors. Their plan involved a focus on digital and the divestment of the Boulevard Saint-Germain flagship.
The acquisition dates were postponed three times, in order to find suitable buyers. The deadline for filing an acquisition bid for Sonia Rykiel was initially set on May 31 2019, then on June 12, and in the absence of a satisfactory offer, it was pushed further back to July 18.
The Parisian label entered receivership in April 2019, and among the potential buyers mentioned were names like the Etam group, which reportedly withdrew, and Emmanuel Diemoz, a former director of Balmain.
Winding of Sonia Rykiel’s operations would to loss of jobs of 131 workers. Best known for its stripy knitwear, the brand based in Saint-Germain-des-Prés, was partially sold to Hong Kongese group First Heritage Brands (formerly known as Fung Brands) in 2012. It then acquired full stake in 2016.
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