Kaporal Enters Liquidation as Marseille-Based Fashion Brand Faces Collapse
French denim label Kaporal has been placed in judicial liquidation, resulting in the immediate termination of 280 jobs.
The Marseille-based fashion group Kaporal, known for its specialization in denim, has been placed in judicial liquidation by the commercial court of Marseille, leading to the immediate cessation of its operations and the impending dismissal of 280 employees.
The announcement was made on March 29, 2023.
Kaporal had previously sought judicial liquidation with a request to continue operations in an effort to create optimal conditions for a potential takeover.
This information was communicated in a statement released by the company, which confirmed earlier reports.
During a court hearing on Thursday, Kaporal defended its position for continuing operations, but unexpectedly received a contrary ruling that halted the company's activities and resulted in significant job losses.
The brand is now classified under "dry judicial liquidation with immediate cessation of activity." In March 2023, the company had already requested judicial recovery to address "unprecedented economic difficulties".
A recovery plan proposed by three executives of the company was approved by the Marseille commercial court in July 2023.
The management of Kaporal expressed dismay over the current economic challenges, citing them as insurmountable in the existing framework.
The French textile industry has been under significant strain in recent years, facing various challenges that have affected many brands within the sector.
The announcement was made on March 29, 2023.
Kaporal had previously sought judicial liquidation with a request to continue operations in an effort to create optimal conditions for a potential takeover.
This information was communicated in a statement released by the company, which confirmed earlier reports.
During a court hearing on Thursday, Kaporal defended its position for continuing operations, but unexpectedly received a contrary ruling that halted the company's activities and resulted in significant job losses.
The brand is now classified under "dry judicial liquidation with immediate cessation of activity." In March 2023, the company had already requested judicial recovery to address "unprecedented economic difficulties".
A recovery plan proposed by three executives of the company was approved by the Marseille commercial court in July 2023.
The management of Kaporal expressed dismay over the current economic challenges, citing them as insurmountable in the existing framework.
The French textile industry has been under significant strain in recent years, facing various challenges that have affected many brands within the sector.
