The French unit of troubled US-based fashion brand BCBG Max Azria has been ordered to cease all of its European operations by 31 October.
The news comes despite a takeover bid being submitted for the European subsidiary of the BCBG Max Azria Group, and means at least 250 staff stand to lose their jobs across the region, 138 of these in France.
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The brand operates 11 stores in France, three factory outlets and 13 stores across the rest of Europe.
According to a local media, a French court rejected a debt restructure and buyout plan from the company on 11 October. It had been in liquidation talks since March this year following the bankruptcy of its US parent.
Investment company Marquee Brands LLC in August acquired the entire portfolio of the fashion retailer’s brands, including the BCBG Max Azria, BCBGeneration and Herve Leger labels and all related intellectual property.
See Also:
Marquee Brands acquires entire BCBG portfolio
Marquee Brands did not respond to requests for comment when approached by just-style.
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