The Orchestra remains in the hands of its founder

The offer of the founder of the clothing brand for children Orchestra-Prémaman, Pierre Mestre, was selected Friday by the tribunal de commerce of Montpellier fo

The Orchestra remains in the hands of its founder

The offer of the founder of the clothing brand for children Orchestra-Prémaman, Pierre Mestre, was selected Friday by the tribunal de commerce of Montpellier for the recovery of this company via the company NewOrch. The group saudi Al Othaim was also a candidate.

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The successful bid includes, in particular, the recovery of 1110 contracts of work (954 employees, permanent contracts) and 156 fixed-term contract and the recovery of the foreign direct or indirect, of 1633 employees, for a sales price of 35.500.000 euros, according to the judgment consulted by the AFP.

Orchestra-Prémaman has been placed in receivership on April 29. The group, under backup procedure since September 2019, was announced in mid-April, consider this step "in order to protect its business", while its stores are closed because of the epidemic of Covid-19.

The group of clothing for children and childcare articles, based in Saint-Aunès (Hérault), was announced in mid-February, the elimination of 159 positions in France and 300 abroad. Its CEO and founder, Pierre Mestre, at the origin of the request for a placement in receivership, had originally applied to the group a strict diet, including closing the logistics warehouse in Saint-Aunès, which employs more than 100 employees of a total workforce of over 1500 employees. It was then on June 11, made an offer said to be "improved".

"The collective of the shareholders of the company NewOrch, chaired by Pierre Mestre, founder and manager of the Orchestra-Prémaman, takes note with satisfaction of the decision of the tribunal de commerce de Montpellier," responded Pierre Mestre in a press release. "By entrusting the reins of the Orchestra-Prémaman to professionals who have developed the business since 25 years, the court has chosen a group project, which is funded and secure, backed by a committed team, respectful of the values of the company and the community of his talents and whose objective is to minimize the impact on employment".

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The group, Al-Othaim "notes with regret the deliberate of the tribunal" granting the recovery of the group Orchestra-Prémaman "in plan to transfer to its shareholder-officer," responded the unfortunate candidate to the recovery, supported by the CES. "Al-Othaim wishes all the best to all teams in the group Orchestra-Prémaman and would like to warmly thank the employees who gave their support throughout the procedure," concludes the group of saudi arabia.

The editorial team conseilleDe numerous bankruptcies of companies, expected by the end of the annéeAucun comment

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Updated Date: 19 June 2020, 14:47

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