The Marseille fashion company Jott, which employs almost 200 people, filed for insolvency proceedings on Thursday. This was revealed on Friday by a source close to the case, confirming a report in the La Provence newspaper.
According to documents obtained by the AFP news agency, the Marseille Economic Court has opened insolvency proceedings for the company SAS Jott. The company was previously declared insolvent. The court has set a preliminary observation period of six months.
An interim hearing is scheduled for February 5. The report is intended to “use the report to examine whether the company’s financial capacities are sufficient to secure the financing of its activities.” In addition, a decision will be made about the continuation of the observation phase or the possible conversion into liquidation proceedings.
A message of great consequence
Jott employs 183 people and generates sales of 24 million euros. According to documents submitted to the court, salaries are up to date for the month of November. Founded in Marseille in 2010, the Jott brand, short for ‘Just over the top’, became known for its light and colorful down jackets.
‘Mode in Sud’, the association of the region’s fashion companies, described the news in a statement as “serious for our fashion ecosystem in the south”. Jocelyn Meire, the president of Mode in Sud, said: “Jott is not just a local company, but a Marseille success story.”
According to him, “the weakening of a structural French brand in the face of real economic challenges illustrates the tensions that permeate the fashion sector today”. The regulatory issue surrounding a global e-commerce giant like Shein further exacerbates this situation.
The French ready-to-wear industry has been suffering from a serious crisis for several years. It is burdened by competition from second-hand fashion and ultra-fast fashion from Asia.
On December 12th, the fashion group IKKS found a new owner. However, this was accompanied by a halving of the workforce and the loss of around 500 jobs.
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