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Galeries Lafayette: the court decision on the plan to save 25 stores postponed for one month
Employees of 25 Galeries Lafayette stores should be decided on their fate on March 20. The court decision on the plan to safeguard the stores owned by Michel Ohayon was postponed for one month, Wednesday February 21. In the meantime, a thousand employees are in limbo. – (France 2)
Employees of 25 Galeries Lafayette stores should be decided on their fate on March 20. The court decision on the plan to safeguard the stores owned by Michel Ohayon was postponed for one month, Wednesday February 21. In the meantime, a thousand employees are in limbo.
Annoyed by the presence of the cameras, Michel Ohayon, owner of 26 Galeries Lafayette stores, came to defend his backup plan on the afternoon of Wednesday February 21. The court decision was postponed for a month. As of Wednesday evening, a thousand employees are still in limbo. The group’s proposal to avoid liquidation is to write off 70% of debts and focus on growth of 11%. This is untenable, according to Stéphane Kadri, the employees’ lawyer.
Michel Ohayon owned Camaïeu, liquidated in 2022
Michel Ohayon is a businessman who owned the Camaïeu brand, liquidated in 2022, as well as Gap and GoSport, sold to other brands. So, at Galeries Lafayette, employees’ concerns are growing. The pending Galeries Lafayette stores are located throughout France. But in Pau (Pyrénées-Atlantiques), the fate of the Galleries is already sealed: it will be closed. The group had already planned to close the store. The future of the other 25 stores is expected to be decided on March 20.
