Surprising turn in the world of ready-to-wear: The Jennyfer brand submitted an application to the Commercial Court of the French community Bobigny on Wednesday to open a liquidation procedure.
In June 2024, the brand left bankruptcy proceedings. The new managing directors and former managers, Yann Pasco and Jean-Charles Gaume, assured that they wanted to renovate the company with an investment of 15 million euros.
Sold for a symbolic euro
This was to be done with the help of the financial support of the Chinese SinoProud group, which became a majority shareholder of the Jennyfer brand in June 2024. The takeover took place through her subsidiary Shanghai Pure Fashion Garment Co LTD as part of the insolvency plan approved by the Bobigny commercial court.
The aim of this assignment at the symbolic price of one euro was to enable the resumption of business activity and at the same time to maintain the jobs and the sales network of the brand.
According to the management, which told the AFP that “the cost explosion, the decline in purchasing power, the changes in the textile market and an increasingly aggressive international competition have made the economic model unsustainable”, a continuation plan was ultimately not realized.
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