The BHV Marais, in receivership, was forced to close its doors earlier than planned this Monday
The Parisian department store and that of Parly 2 had to close their doors this Monday, November 9 due to administrative regularization linked to their receivership.
Quick Look
- The BHV Marais and the BHV Parly 2 closed their doors this Monday, November 9 at 4 p.m.
- Management cites an insurance policy transfer problem following the company's placement in receivership which occurred a week ago.
AI-generated summary
Why It Matters
BHV Marais was placed in receivership at the end of October due to cash flow difficulties. The brand is seeking to carry out the relaunch of the store and the treatment of its liabilities at the same time.
Placed in receivership a week ago, the BHV Marais was forced to close its doors earlier than planned this Monday, November 9, at 4 p.m., according to the management of the Parisian department store. She invokes a temporary “administrative regularization” linked to an insurance issue.
The BHV Marais and the BHV Parly 2, in Yvelines (Île-de-France) “must close this evening as a precaution for our teams and our customers: one of our insurance policies could not be transferred as part of the current legal recovery,” explained the president of the brand, Karl-Stéphane Cottendin, in a message to employees transferred to AFP. Monday before 6 p.m., the doors of the Parisian department store were closed and the lights turned off, with no one inside and no poster informing customers, noted an AFP journalist.
“The cash flow difficulties no longer allow us to carry out the two projects before us: on the one hand the relaunch of the store, on the other hand the treatment of the liabilities,” Karl-Stéphane Cottendin explained to Le Figaro at the end of October, after the announcement of his bankruptcy filing. “Requesting placement in receivership is a considered decision. This is a strategic step in the restructuring that we are carrying out,” he added.
Open Questions
- When will stores be able to reopen?
- Will the insurance situation be regularized quickly?
