FRANCE: Court orders liquidation of two Siat-Lang subsidiaries
A court in Mulhouse, eastern France, has ordered the liquidation of two subsidiaries of family-owned fashion fabrics group Siat-Lang that together employ 173 staff.
Siat-Lang, which designs and sells fabrics, and S&L Productions, which dyes and weaves them, had enjoyed some initial success in small-volume markets, where competition from low-cost producer countries was largely absent, a group source said.
However, they were dealt a severe blow from the global economic crisis in autumn 2008.
The two subsidiaries have been authorised by the court to continue trading for one month in order to allow company managers the possibility to come up with takeover bids they are currently working on.
The winding-up order does not include a third subsidiary, TBC, which specialises in dyeing and enobling.
The Siat-Lang group filed for babkruptcy at the end of 2005, going on to benefit from a continuation plan in July 2007.
Help test our new apparel sourcing tool.
- China leads US apparel sources with falling prices
- Vietnam grows share of US apparel imports in 2016
- US apparel sector braces for potential cost hikes
- Trade Tracker – Trump's first weeks, Brexit agenda
- Hard hit Turkish industry is not knocked out
- VF Corp sees Q4 and FY earnings tumble
- Bangladesh "high threat" for terrorist activity
- Adidas and Burberry recognised for sustainability
- US Q4 in brief – Macy's, Walmart, VF Corp
- Sales at US clothing retailers jumped in January
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Global market review of lingerie – forecasts to 2022
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar