Court chooses consortium's takeover bid for Lejaby

FRANCE: Court chooses consortium's takeover bid for Lejaby

By Stuart Todd | 19 January 2012

The commercial court in Lyon on Wednesday (18 January) chose the takeover bid for insolvent French lingerie maker Lejaby submitted by a consortium led by Alain Prost, the former CEO of Italy's La Perla and previously managing director of French lingerie brand Chantelle.

His associates in the consortium are Lejaby's Tunisian sub-contractor Isalys, Christian Bugnon (the son of Lejaby's former owner) and Italian investment fund Fiduciaria San Babila. The consortium plans to retain 195 of Lejaby's 450 staff in France.

The other bid before the court had been submitted by French nightwear specialist Canat, which planned to keep on 170 workers.

Lejaby went into administration at the end of October, putting its difficulties down to a significant shrinking in the multi-brand retailer channel, the main outlet for its products.

Over 90% of Lejaby's production now takes place outside France, notably in North Africa.

Just before Christmas the court ordered the liquidation of the company but allowed it to continue trading until 20 January.

Sectors: Apparel, Manufacturing

Companies: Lejaby