No store is affected in the region •
Specialized in the distribution of jewelry and watches, the MATY company has prospered since its creation in 1951 by Gérard Mantion until the beginning of the 2000s. On August 27, 2020, Patrick Cordier, Chairman of the Gemafi Management Board.
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MATY is 100% owned by SA GEMAFI, itself owned by the family of founder Gérard Mantion. SA GEMAFI is the president of SAS MATY.
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The reason for the company’s decline? “The rise in precious metals and also by the general decline in intentions to buy jewelry among consumers “, explains Patrick Cordier. Other factors also come into play, according to him: the weight of the investments made to develop the business, the decline in catalog sales and the difficulties in finding a profitable business model.
Which points of sale are affected by the closure?
“The list of closures will only be final after negotiations with the social partners, but I can tell you already that none of the stores in Bourgogne-Franche-Comté is affected”, explains the Chairman of the Management Board Gemafi.
Despite the support of a loan guaranteed by the State, which however only allows it to cope with the short-term effects of this latest crisis and which must be repaid as soon as possible, MATY has to initiate a reorganization plan. which will allow it to return to a profitable situation from 2021 and thus ensure its sustainability. This plan mainly concerns the closure of 20% of the MATY brand outlets (8 out of 37), whose activity is structurally in deficit, as well as the adjustment of the head office structure.
This translates concretely into a plan to reduce the workforce by 54 positions, or 12% of the total workforce (38 positions for the stores affected by the closures and 16 positions at the bisontin headquarters) which involves the implementation of a Plan of Employment Protection announced to social partners on August 27, 2020.
“The shareholders and the Management of MATY undertake to negotiate as best as possible with the Staff Representative Bodies the conditions of these job cuts and in particular the support measures for the people concerned”, is it specified.
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