The commercial court of Chalon-sur-Saône has put an end Thursday to the judicial redress of the company Sheaf, former leader of the down and sticky French several times in danger of disappearing, after the settlement of all liabilities by its shareholder the chinese.
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The company, founded in 1904, had been placed into receivership in mid-April, after the setbacks of the hotel group’s chinese Chongqing Tianci Hot-Spring, which had reverted back to Sheaf in September 2015. But this group has finally adjusted “total liabilities,” according to the court, which has, therefore, decided to abandon the procedure and to rule out two offers to purchase which were presented: Kindy and the Company workshops Peyrache, small group textile auvergne.
The rescue chinese
The shareholder of china has already paid 300,000 euros to the insolvency administrator and is committed to bring more funds, if necessary, according to the court. The chinese group also announced at the hearing that it had signed an agreement with merchant sites which are among the most important in China. The group had, during the recovery of a Sheaf, given rise to great hopes for the company, which employs about fifty employees at Saint-Vallier (Saône-et-Loire), promising to sell the production in a vast network in China, which has never materialized.
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Chongqing Tianci Hot-Spring had also said that they wanted to maintain the industrial base to continue to produce “Made in France” and the aim was to reposition the brand Wreath on the very top of the range with significant investments, especially in marketing and communication in China.
A group of leading
Chongqing Tianci had in particular to create new products he had to sell in China in specialty shops in the outfits of bath. Sheaf, who had invented the very first bottom with a seam at the back, occupied the place of leader on the French market during the major part of the Twentieth century, employing up to 800 people in 1980.
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Jeanne Lanvin, Coco Chanel and Christian Dior were among his most loyal customers. A victim of the fashion of the pants and of the global competition, the company has subsequently several times changed hands. Staff numbers rose from 530 employees in 1995 to 62 in 2015, for a turnover of 4.5 million euros in 2017 (last figure available). Requested, the director of the company, Philippe Genoulaz, did not respond to calls from AFP.
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