A century-old company could go out of business. The shoemaker André is again in difficulty: the Nanterre commercial court placed the 1Monde9 group, which has owned the historic brand since 2020, in receivership at the beginning of February, confirming information from the online economic media. The Informed.
The company 1Monde9 of the buyer of André François Feijoo, former CEO of the group founded at the end of the 19th century, declared the cessation of its payments on January 27 and requested the opening of a receivership procedure, which was made on February 2.
The Commercial Court of Nanterre has set a next hearing date for March 30, to “rule if necessary on the continuation of activity”.
A devastating Covid-19 crisis
Employed at André in 1992 and dismissed in 2021, Tania Rome, former FO central delegate, judges that this receivership is due to “malfunctioning, bad decisions and a bit of the Covid”.
André had been the first distribution company to have been placed in receivership due to the Covid-19 crisis, which had left its stores closed for many months.
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 at the beginning of February.
The 1Monde9 group, based in Puteaux in the Hauts-de-Seine, employs 280 people and claims an annual turnover excluding taxes of just under 31 million euros.