André shoes, in receivership since February, are the subject of a partial “sale plan” stopped by the Nanterre commercial court for the benefit of a Belgian company, one of the judicial administrators of the famous brand.
This operation concerns the “activities and assets of 1MONDE9”, owner since 2020 of the brand more than a century old, i.e. 21 stores out of 49 and 119 employees taken over out of 250, “for the benefit of the company Optakare”, indicated this same source, confirming information from the specialized press title Fashion Network.
In cessation of payments since January 2023
“Optakar takes over the sign” André, according to the judicial administrator, who did not specify the amount of this acquisition. In its decision, rendered on May 2, the court provided “an option of substitution for the benefit of a French takeover company”, detailed the judicial administrator, adding that this company was “in the process of being set up”.
The 1Monde9 company of François Feijoo, himself a former CEO of the brand, had taken over André in 2020 before declaring the cessation of his payments at the end of January 2023, requesting the opening of receivership proceedings. Shortly after, the Nanterre Commercial Court set the company’s observation period at six months.
Difficulties since the Covid
During the 2020 takeover, only a third of the brand’s points of sale had been retained, the takeover plan then providing for the dismissal of just under 200 employees. André had been the first distribution company placed in receivership due to the Covid-19 crisis which had forced it to close its stores for many months.
In the past, it had been owned by the online sales site Spartoo, and even before that by the former flagship of French textiles Vivarte, also originally called Groupe André. André is part of the long list of brands that belonged to the Vivarte group today facing financial difficulties, like Kookaï, also placed in receivership in early February.