Go Sport: turnaround or sale? The decision again postponed by the court

Go Sport: turnaround or sale?  The decision again postponed by the court

Go Sport should have been fixed on its fate this Wednesday but it will not be the case, the court postponed the decision to March 18. The observation period during which the company is authorized to continue its activity is maintained until July 19, 2023, indicate two judgments rendered on Wednesday, estimating that the sign which employs just over 2,000 people“might be able to improve his situation”.

The court also specifies that the Grenoble public prosecutor’s office requested a “modification of the mission of the judicial administrators so that they fully represent the company”, as well as the “appointment of a legal expert to explain the cash flows over the months preceding the opening of the procedure”.

In the wake of the sudden liquidation of the Camaïeu ready-to-wear brand in September, the employees of Go Sport, their union representatives and the central social and economic committee (CSEC) were concerned several months ago about the financial health of parent company HPB (Hermione, People & Brands). They were particularly alarmed by an increase of 36 million euros in cash from Go Sport to HPB.

Interested Frasers Group

The prosecution’s request, presented orally during a hearing on Monday morning, also requires a referral and will for its part be examined on March 29, specifies the court. The court had placed Go Sport in receivership at the end of Januaryleaving potential candidates to take over the group until last Friday to make themselves known.

Among the candidates who have expressed an interest is the chain of sports stores Intersport. According to our informationthe British group Frasers would also be in the running.

For its part, HPB, the company through which thebusinessman Michel Ohayon owns Go Sport, said on Friday that it had a “project to present a plan for the continuation of the activity” of the brand “as part” of its receivership.

An investigation is also underway with the Paris prosecutor’s office for “organized gang fraud, habitual money laundering, bankruptcy and abuse of social property” within Go Sport. The investigation, initially opened by the Grenoble prosecutor’s office for “abuse of social property”, followed “several revelations of criminal acts” reported by its auditors.

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