FRANCE: Second takeover bid for lingerie maker Lejaby
A second takeover bid submitted for insolvent French lingerie maker Lejaby comes from a UK-registered company, Pacific Junction Corporation, acting on behalf of an unidentified French firm currently being set up.
The bid is said to propose retaining 220 of Lejaby's 450 staff. However, given that the deadline for bids passed on 30 November, a bankruptcy judge will now consider whether this new offer is receivable.
The other bid comes from Grenoble-based investment fund Abcia, and makes provision to retain 135 staff.
The commercial court of Lyon is scheduled to examine bids for Lejaby on 22 December.
Lejaby puts its difficulties down to a significant shrinking in the multi-brand retailer channel, the main outlet for its products.
The lingerie firm, which closed three of its four French production sites at the end of last year, posted a loss of EUR2.7m (US$3.6m) for the 2010/2011 financial year. Restructuring at the company has also entailed almost 200 jobs cuts and the transfer of production to North Africa.
- MYANMAR SNAPSHOT: Textile and apparel industry
- Alliance members buy more products from Bangladesh
- Clothing seen as central focus for new Tesco CEO
- Indian apparel exporters discuss policy changes
- Change management key to PLM project success
- Crystal Group improves worker communication
- TIMELINE: Charney ousting from American Apparel
- Columbia Sportswear fined for mislabelled clothing
- “Made in USA” company rapped for deceptive claims
- VF Corp books "solid" Q2 performance
- Global market review of denim and jeanswear – forecasts to 2020
- Management briefing: Sourcing shifts: Changes and challenges
- Ethiopia – the emerging textile and clothing industry
- Plunkett's Apparel & Textiles Industry Almanac 2014: Apparel & Textiles Industry Market Research, Statistics, Trends & Leading Companies
- American Eagle Outfitters, Inc. : Reacting to a need for change