Jennyfer files for liquidation after 40 years in business: nearly 1,000 jobs at risk
Founded in 1985, Jennyfer gained popularity across France for its trend-driven, affordable collections targeting the Gen Z market. Today, the company runs 130 directly owned stores and 53 affiliates across France, with approximately 40 international locations in Belgium and North Africa.
Jennyfer attempted to relaunch in 2023 through a court-supervised recovery plan. The effort was spearheaded by new owners—executives Yann Pasco and Jean-Charles Gaume—who acquired the company in the summer of 2024 with backing from Chinese apparel manufacturer Shanghai Pure Fashion Garments Co. Ltd. Their goal was to broaden the brand's market and modernize its image. However, the strategy failed to stabilize the company's finances. 'The surge in costs, declining purchasing power, structural shifts in the textile market and intensifying international competition made its business model unsustainable,' Jennyfer told AFP.
The liquidation affects 999 employees. The CGT union condemned the process as 'abrupt and brutal,' and criticized the lack of transparency with employee representatives regarding the legal proceedings.
In a statement to FashionNetwork.com, Jennyfer said wages would be paid via France's AGS wage guarantee fund, though delays are expected. To minimize hardship, the company said it would advance 50% of May's salaries to employees immediately.
CFE -CGC union delegate Myriam Boumendjel expressed doubt over a full acquisition, saying, 'At best, a few stores may be picked up by other retailers.' She called the decision 'painful,' but acknowledged the loyalty of the workforce: 'This was a tightly knit company with employees who believed in the mission until the very end. There was a rebranding, and costs were cut—but it wasn't enough, especially considering how young consumers now shop on platforms like Shein.'
Jennyfer reported nearly €200 million in annual revenue in recent years but struggled with mounting losses. In 2023, it claimed to have cut its losses in half while eliminating 75 positions at its headquarters and logistics division as part of a restructuring plan.
From 2018 until June 2024, Jennyfer was owned by a consortium that included Sébastien Bismuth (president of French menswear brand Celio), co-founders Gérard Depagniat and David Tordjman, the Grosman brothers (also Celio co-founders), and the European investment arm of American brand Guess.
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