The Princess Tam-Tam and Comptoir des Cotonniers ready-to-wear brands were placed on Tuesday 1is July in receivership by the Paris Economic Activities Tribunal, the Agency France-Presse (AFP) learned from a source close to the file on Wednesday July 2.
These brands, specializing in lingerie and women’s clothing respectively, had made the request due to “The continuation of financial deterioration” of their accounts, “In a market context that has not improved”had communicated a source to AFP at the end of June.
The two brands belong to the Fast Retailing France group, a subsidiary of the Japanese giant of the same name whose flagship brand is Uniqlo. The group had already announced in June 2023 to consider the closure of 55 COTONNIERS and Princess TAM-TAM COURSE stores out of 136 in France, as well as the abolition of 304 posts for these two brands.
The objective of the plan was to “Continue to adapt Fast Retailing France to changes in the clothing market and stem the serious difficulties encountered by the company and its subsidiaries in order to ensure their sustainability”according to the group.
Competition of “UltraFast-Fashion” and the second hand
Comptoir des Cotonniers and Princess Tam-Tam did not resist the crisis that strikes the ready-to-wear brands in the mid-range, competed by the rise of the “UltraFast-Fashion” and the second hand.
Previously, part of them had already undergone the pandemic of Covid, which had stopped economic activity, then inflation, the increase in energy costs, raw materials, rents and wages. This suite of difficulties has put these well-known businesses to the city centers and commercial areas.
Camaïeu, Kookai, Burton of London, Gap France, André, San Marina, Kaporal, Jennyfer, from the same up, Sergeant Major, Esprit, C&A, Naf Naf, Ikks: none of these brands came out unscathed. Some have closed stores and licensed employees, others asked for a receivership, some, finally, had to resolve to be liquidated.
