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.
- Synergies Worldwide CEO unravels sourcing shifts
- Why have US FTA imports fallen to a record low?
- First figures show Bangladesh exports climb
- Bangladesh still needs reforms to fix factories
- Collaboration key to the future of smart textiles
- Hanesbrands to buy Pacific Brands for $800m
- Improving traceability a key industry challenge
- BHS lacks relevance as it files for administration
- Retailer Austin Reed goes into administration
- US Q1 in brief: Carter's, Columbia Sportswear, Ske