The brands of Michel Ohayon follow one another in the announcements of receivership. After Go Sport, Camaïeu and FIB, the figurehead of the businessman’s companies, the Galeries Lafayettes will also be the subject of such a procedure.
What is happening to Michel Ohayon’s empire? After the placement in receivership of Go Sport, Camaïeu and especially FIB (Financial real estate Bordeaux), the Galeries Lafayette will be the subject of the same procedure.
Succession of receiverships
Wednesday, February 15, South West announced the placement of FIBfigurehead of the companies of Michel Ohayon, in receivership. A strong symbol that arrived after the same procedure applied to Go Sport, Gap or Camaieu in recent weeks.
Today, our colleagues reveal that the Galeries Lafayette are also placed in receivership. This week, the elected staff of the 26 group stores exercised their right to alert in order to ask management for an explanation of its economic situation. Like the other brands of the businessman subject to this procedure, Galeries Lafayette was part of Hermione People and Brandswhich, according to its spokesperson, was not to be affected by the fate of FIB this week, explains BFM TV.
It was Michel Ohayon who requested the application of this procedure to the 26 Galeries Lafayette stores in order to “protect them from any attack”, he explained to our colleagues. Thus, these signs present at AgenAmiens, Angouleme, BayonneBeauvais, Belfort, Besançon, Caen, CannesChalon-sur-Saone, Chambery, DaxLa Roche-sur-Yon, La Rochelle, Libourne, Lorient, MontaubanNiort, Rouen, Saintes, Tarbes, ToulonTours, Pau, Rosny and the Outlet of Coquelles, are concerned.
The group’s employees were already denouncing the lack of transparency their management on its financial situation and feared that the failures of the parent company would impact their work. Interviewed by our colleagues, the unions explained that they had noticed problems with the brand merchandise.
We no longer receive goods from certain brands sold in Galeries Lafayette and we think it is because the service providers are not paid. We wonder about our future
Bank of China asks for reimbursement
Bank of China requested at the beginning of February the reimbursement of 200 million borrowings made by FIB, whose balance sheet revealed that it was indebted to the tune of 477 million euros.
The lender disclosed to BFM TV have not received any reimbursement for the three installments received, of 56, 70 and 75 million euros granted between February 2014 and January 2017.
It was Bank of China which summoned these companies before the Bordeaux Commercial Court, which will decide on any sanctions to be imposed on these big names in ready-to-wear.
The Bordeaux Michel Ohayon is specializing in real estate but has bought several retail brands in recent years. From Gap to Camaëu via Go Sport, La Grande Récré or Café Légal, he had become a very influential businessman in the field.
