Pimkie: the company about to be sold, 500 jobs threatened
After the falls of Monochrome, Kookai and Go Sports, Pimkie does not sink but is in great difficulty. The women’s ready-to-wear brand is about to be sold to a consortium combining Lee Cooper France, Kindy and Ibisler Tekstil. A takeover that would lead to the elimination of around 500 jobs, we learned Thursday from union sources and close to the matter. “The sale of Pimkie” by the Mulliez family association (AFM) “will soon be approved”, indicates to AFP a source close to the file, confirming information from challenge.
A conciliation hearing is scheduled for February 8 before the Commercial Court of Lille-Métropole. It relates “to the conditions of the sale” and the “commitments” made by the seller and the buyer, said this source.
Hundreds of stores closed
The brand, which employs 1,500 people and has 232 own stores and 81 affiliated, announced in October that it had entered into exclusive negotiations to be acquired with the consortium made up of the Lee Cooper France, Kindy and Ibisler Tekstil groups.
According to Marie-Annick Merceur, CFDT union delegate, the buyers “will be within the walls around February 16-17” and “in April, we should be told of a social plan with a hundred stores to close. The expert of the CSE estimates from 450 to 500 the number of posts deleted “as part of this PSE (plan to safeguard employment).
The transfer operation provides for the AFM to create a financial structure “which will make it possible to finance this social plan, investments and future banking maturities”, underlines Marie-Annick Merceur. Contacted by AFP, the management of Pimkie and Kindy declined to comment.
“No project that will make Pimkie better”
Another union source also anticipates a PSE which would concern around 500 employees, mainly employed by 100 stores which will be gradually closed between 2023 and 2025. According to her, the unions have already obtained guarantees on this future PSE, in particular on the supra bonuses -legal.
The AFM “will put 250 million euros, in stages”, says this source. “Mulliez will pay off his debts and support the financial recovery, but once they are gone, we are not sure that it will last very long,” she worries.
The buyers “have not presented any project that will make Pimkie better tomorrow. We continue to lose money and as much as the Mulliez family had strong backs (…) they don’t have it”, regrets Marie-Annick Merceur.