In order to avoid bankruptcy, the Belgian subsidiary of Camaïeu stores had announced to the unions last July 24 that she would ask for a judicial reorganization procedure (PRJ). Since then, the Belgian subsidiary, which occupies 28 stores and employs 120 workers (130 during peak periods), is still awaiting a final document which will enable it to protect itself from its creditors. The annual report is missing, which usually appears in May.
Today, the CNE claims to have proof that the parent company Camaïeu international is organizing the bankruptcy of its Belgian, Luxembourg and Swiss subsidiaries. August 17 being the deadline for a buyer of Camaïeu International, after this date, no one knows what will happen to the subsidiaries. To avoid bankruptcy on August 17, the Belgian subsidiary needs funds. Today, the CNE ensures that the CEO of Camaïeu International and shareholder principal Joannes Soënen, organized the repatriation of funds from Swiss, Luxembourg and Swiss subsidiaries at the risk of bankrupting these subsidiaries.
Less compensation for workers
The bankruptcy of Camaïeu Belgique means that the employer does not have to pay severance pay to its employees. They will be covered by the Business Closure Fund, in other words the State. “The workers will be made redundant but with a very small part of their compensation which will be capped since there will be no Renault procedure or social plan“, Explain Jalil Bourhidane in charge of the file for the CSC.
He adds: “Lhe judicial reorganization procedure (PRJ), announced at the end of July, was not launched before August 5 as planned, due to lack of an annual budget. A budget that Camaïeu International has never transmitted. This does not allow a legal representative to start looking for a buyer. However, with a buyer, the workers who would not have been saved would have been entitled to all of their compensation if the funds of Camaïeu Belgium had not been siphoned off by Camaïeu International “. The union adds that the Camaïeu Belgium project is viable and could have found a buyer.
Today the CNE ensures that it has proof of this request from the CEO of Camaïeu International through email exchanges and adds that direct witnesses to this fraud are ready to testify in the event of a trial. The CNE explains that it has no indication of the involvement of the Belgian management in what could be an organized bankruptcy.
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