A mythical bookstore in Le Mans could soon close its doors… The Récréalivres children’s bookstore, which has been open for around thirty years, announced on May 3 in receivership for cessation of payment. The company, with its reassuring turnover, can no longer pay its debts.
“The system of independent bookstores is fragile”, recalls the manager Gwendal Oulès. A trifle can therefore upset this type of business. In this case, one of the reasons is the repayment of the Loan Guaranteed by the State, the PGE (aid related to the Covid). If you are regulars, don’t panic because the team “has hope” to find someone to take over the business.
Suspension of payment, a way of anticipating to save Récréalivres
Manager Gwendal Oulès announces immediately that this cessation is in fact intended to save the bookstore. “It’s a project which can be profitable, which has loyal customers, which is unique to Le Mans.” In the rays precisely we meet two regulars: Thibault, four years old, and his mother Charlotte. “My whole library is made up of books from this bookstore. I come every week… or almost!”
– Solene Gardre
Even though the bookstore is not at the liquidation stage, Charlotte is worried. “It’s always sad… And then a place like that, we would like it to be carried and that it continues. For me it’s a bookstore that has a soul, with demanding selections and booksellers that we love .”
A good turnover
The bookseller, precisely, can no longer repay the debts despite a rather good turnover of around 500,000 euros per year. “I have already invested a lot in this project”explains Gwendal Oulès, who took over the bookstore 15 years ago.
He therefore decided to take the lead before being totally bankrupt. “I explained my situation to the commercial court. The judge told me that it was quite rare for a bankruptcy filing to be filed early, but that it was a good way to do it, that it do not hide your face and pretend to be an ostrich.” Gwendal Oulès hopes to find someone because the project “can be profitable, we have loyal customers, we have a history and we have partnerships”.
– Solene Gardre
A weak model
What it doesn’t have is the 75,000 euros to repay the PGE, the loan guaranteed by the State, granted to companies during the first confinement. “But it’s not an insane sum and we can very well find someone who can make this investment!”
Today, bookstores are the least profitable businesses in France.” – Gwendal Oulès, manager of Récréalivres
“The PGE was a one-time help to compensate for the loss of turnover during the first confinement”recalls the bookseller. “But now it’s an additional loan to settle and that must be integrated into an already fragile balance at the start. Today, bookstores are the least profitable businesses in France.”
Only two days have passed since the announcement of the cessation of payment but Gwendal Oulès has already had requests for buyers. Initially, he allows himself until the end of May to examine them. “It’s a great project, which has real potential. It would be a shame to waste it.”