Latest news with #Jean-CharlesGaume
Fashion Network
28-05-2025
- Business
- Fashion Network
Jennyfer: French court to review employee fate amid partial buyout offers
Jennyfer, primarily targeting a teenage audience, has faced financial difficulties for several seasons. The company entered receivership in 2023 and was sold in the summer of 2024 to two of its executives, Yann Pasco and Jean-Charles Gaume, with backing from their Chinese supplier, Shanghai Pure Fashion Garments Co. Ltd. Despite efforts to modernize its image and expand its customer base; the relaunch failed to deliver. As employees await the court's decision, uncertainty looms. On May 21, stores across the network closed for the day in protest, allowing staff to voice their concerns and push for fair severance arrangements. Signs displayed in store windows read: 'We, the employees, continue to work to the end, with courage, loyalty, and professionalism, despite the uncertainty, moral pressure, and lack of prospects. And today, no recognition. NONE. No bonuses, no compensation, no acknowledgment of our efforts.' Following the protest, employees reportedly secured a modest gain. Myriam Boumendjel, a representative from the CFE -CGC union, told 'A value-sharing bonus and a performance bonus tied to work done since the liquidation—about 1,800 euros per employee—were granted. We're working like crazy under difficult conditions, so it's only fair that we receive recognition. The administrators and receivers shouldn't be the only ones benefitting.' According to reporting by Le Monde, an internal survey by employee representatives revealed that two-thirds of the workforce would prefer to be laid off rather than join a new company under a new owner. A final decision on the bids is not expected this Wednesday but is anticipated in two weeks.
Fashion Network
28-05-2025
- Business
- Fashion Network
Jennyfer: French court to review employee fate amid partial buyout offers
Jennyfer, primarily targeting a teenage audience, has faced financial difficulties for several seasons. The company entered receivership in 2023 and was sold in the summer of 2024 to two of its executives, Yann Pasco and Jean-Charles Gaume, with backing from their Chinese supplier, Shanghai Pure Fashion Garments Co. Ltd. Despite efforts to modernize its image and expand its customer base; the relaunch failed to deliver. As employees await the court's decision, uncertainty looms. On May 21, stores across the network closed for the day in protest, allowing staff to voice their concerns and push for fair severance arrangements. Signs displayed in store windows read: 'We, the employees, continue to work to the end, with courage, loyalty, and professionalism, despite the uncertainty, moral pressure, and lack of prospects. And today, no recognition. NONE. No bonuses, no compensation, no acknowledgment of our efforts.' Following the protest, employees reportedly secured a modest gain. Myriam Boumendjel, a representative from the CFE -CGC union, told 'A value-sharing bonus and a performance bonus tied to work done since the liquidation—about 1,800 euros per employee—were granted. We're working like crazy under difficult conditions, so it's only fair that we receive recognition. The administrators and receivers shouldn't be the only ones benefitting.' According to reporting by Le Monde, an internal survey by employee representatives revealed that two-thirds of the workforce would prefer to be laid off rather than join a new company under a new owner. A final decision on the bids is not expected this Wednesday but is anticipated in two weeks.
Fashion Network
27-05-2025
- Business
- Fashion Network
Jennyfer: French court to review employee fate amid partial buyout offers
Jennyfer, primarily targeting a teenage audience, has faced financial difficulties for several seasons. The company entered receivership in 2023 and was sold in the summer of 2024 to two of its executives, Yann Pasco and Jean-Charles Gaume, with backing from their Chinese supplier, Shanghai Pure Fashion Garments Co. Ltd. Despite efforts to modernize its image and expand its customer base; the relaunch failed to deliver. As employees await the court's decision, uncertainty looms. On May 21, stores across the network closed for the day in protest, allowing staff to voice their concerns and push for fair severance arrangements. Signs displayed in store windows read: 'We, the employees, continue to work to the end, with courage, loyalty, and professionalism, despite the uncertainty, moral pressure, and lack of prospects. And today, no recognition. NONE. No bonuses, no compensation, no acknowledgment of our efforts.' Following the protest, employees reportedly secured a modest gain. Myriam Boumendjel, a representative from the CFE -CGC union, told 'A value-sharing bonus and a performance bonus tied to work done since the liquidation—about 1,800 euros per employee—were granted. We're working like crazy under difficult conditions, so it's only fair that we receive recognition. The administrators and receivers shouldn't be the only ones benefitting.' According to reporting by Le Monde, an internal survey by employee representatives revealed that two-thirds of the workforce would prefer to be laid off rather than join a new company under a new owner. A final decision on the bids is not expected this Wednesday but is anticipated in two weeks.
Fashion Network
27-05-2025
- Business
- Fashion Network
Jennyfer: French court to review employee fate amid partial buyout offers
Jennyfer, primarily targeting a teenage audience, has faced financial difficulties for several seasons. The company entered receivership in 2023 and was sold in the summer of 2024 to two of its executives, Yann Pasco and Jean-Charles Gaume, with backing from their Chinese supplier, Shanghai Pure Fashion Garments Co. Ltd. Despite efforts to modernize its image and expand its customer base; the relaunch failed to deliver. As employees await the court's decision, uncertainty looms. On May 21, stores across the network closed for the day in protest, allowing staff to voice their concerns and push for fair severance arrangements. Signs displayed in store windows read: 'We, the employees, continue to work to the end, with courage, loyalty, and professionalism, despite the uncertainty, moral pressure, and lack of prospects. And today, no recognition. NONE. No bonuses, no compensation, no acknowledgment of our efforts.' Following the protest, employees reportedly secured a modest gain. Myriam Boumendjel, a representative from the CFE -CGC union, told 'A value-sharing bonus and a performance bonus tied to work done since the liquidation—about 1,800 euros per employee—were granted. We're working like crazy under difficult conditions, so it's only fair that we receive recognition. The administrators and receivers shouldn't be the only ones benefitting.' According to reporting by Le Monde, an internal survey by employee representatives revealed that two-thirds of the workforce would prefer to be laid off rather than join a new company under a new owner. A final decision on the bids is not expected this Wednesday but is anticipated in two weeks.
Fashion Network
15-05-2025
- Business
- Fashion Network
12 bids filed for French womenswear chain Jennyfer, including by Beaumanoir, Pimkie and Celio
May 13 was the deadline for potential buyers of French fashion chain Jennyfer to file their bids. Jennyfer, which has 999 employees, was placed in judicial liquidation while continuing to trade on April 30, and has learnt from sources close to the matter that 12 bids for the chain have been put forward, most of them for a partial acquisition. The bids will be officially presented to Jennyfer's employee representatives at a committee meeting scheduled on May 15. Jennyfer, whose main consumer targets are teenagers and young women, was placed in receivership in 2023. In summer 2024, it was sold to two of its senior executives, Yann Pasco and Jean-Charles Gaume, backed by Shanghai Pure Fashion Garments Co. Ltd., a Chinese manufacturer producing for Jennyfer. Jennyfer, which has been allowed to continue trading until May 28, currently runs 130 directly operated stores in France (plus 53 affiliated ones), and approximately 40 outside France. A store fleet that has attracted several potential buyers, including some big names in French retail. has learnt that Brittany-based group Beaumanoir (owner among others of Cache Cache, Bonobo, La Halle, and Boardriders) would like to buy 26 Jennyfer stores. 'The units in question are positioned in strategic locations that would allow the Beaumanoir group to continue to extend the retail footprint of its existing brands,' Beaumanoir told The group's bid reportedly means that 160 jobs would be saved. Beaumanoir is also interested in buying the rights to the Jennyfer brand, to have the option of subsequently relaunching it. A joint bid has been put forward by fashion retailers Celio and Pimkie, which are said to have agreed to acquire approximately 50 stores, the majority of them for Pimkie, which could still operate them under the Jennyfer name. Over 300 jobs would be involved in this bid. After an organisational overhaul, Pimkie has recently claimed to have found new momentum. Menswear retailer Celio would instead have the opportunity of expanding its fleet of 'twin stores' combining the Celio and Be Camaïeu brands, by adding seven new addresses, as Celio told Other bids relate only to Jennyfer's inventory, notably by inventory clearance specialists like Noz, which in the past acquired the stock of several struggling brands, notably Minelli, Olly Gan, and Esprit. Finally, a few bids relate to a limited number of Jennyfer stores only. All the bids will be examined by the Bobigny trade court on May 28. Until then, Jennyfer stores will continue to operate, but the brand's e-shop has been closed. Jennyfer deployed a recovery plan last year, which included revamping its brand image and broadening the consumer target, but in the last nine months the chain's owners have failed to make the recovery a reality, penalised by 'skyrocketing costs, slumping purchasing power, changes in the apparel market and increasingly aggressive international competition.' Jennyfer was founded 40 years ago, and in 2023 it filed a redundancy plan that related to 75 positions at headquarters and logistics.
