The Parisian brand Naf Naf is insolvent.
A spokesman for the brand confirmed the opening of the insolvency proceedings to the French news agency AFP. Naf Naf is struggling with high rent arrears that arose during the pandemic. The insolvency administrator should now help to settle these.
At the beginning of the year, Naf Naf already carried out a restructuring at the headquarters. At that time, 27 jobs were cut. The brand now wants to present a restructuring plan with the insolvency administrator to ensure the continued existence of the company.
It’s not the first time that Naf Naf has run into liquidity problems. The company already filed for bankruptcy in May 2020 and was then taken over by the Franco-Turkish SY Group.
This translated and edited post previously appeared on FashionUnited.nl.