Spodis (JD Sports) retained to acquire Gap France, 214 jobs saved

Spodis, subsidiary of the British group JD Sports, has been retained by the Commercial Court of Grenoble to take over much of Gap France’s business.

The Société Spodis, appartenant au groupe coté à Londres JD Sports, a été retenue par le tribunal de commerce de Grenoble for reprendre at a prize of 300,000 euros une grande partie de l’activity de la société Wilsam, filiale of the groupe Ohayon detentrice of magasins GAP in France.

“With realistic operating and financial projections, and the ability to support working capital and equity investments, Spodis is protecting 214 jobs out of 336, with a commitment to make no redundancies for two years,” it announced Thursday on a parquet floor in Grenoble. launch.

“The jobs seized come from 19 stores, the head office and 2 corners +, but only 9 stores were fully seized,” the prosecution noted, explaining that the court “retained the proximity of the activities of Gap (retail and apparel) and JD Sports (retail of apparel) ) and respect for business continuity”, while the offer was not unanimous among employees, fearful of seeing the Gap brand disappear.

judicial guidance

Spodis remained the only favorite in the race since Hema France and Shopinvest, which initially bid, finally pulled out. The Intersport Group – the Go Sport’s latest buyer – had capitulated at the start of April. The court also ruled out the possibility of a redemption plan, in the absence of a “written document supporting the project” cited by Wilsam, whose court had ordered liquidation, allowing the remaining shops to be sold to other buyers.

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The Gap France brand, a subsidiary of Michel Ohayon’s Hermione, Brands & People (HPB) holding company, was placed into receivership in early March, with liabilities of approximately €6 million at the time. That liability had risen to more than 34 million on the day of the April 26 hearing.

Acquired in 2021 for a symbolic euro, Gap France is part of the Ohayon group, which has been in turmoil for several months: after the liquidation of its Camaïeu brand (2,600 employees) in September, the main holding company, Financière immobilière bordelaise (FIB) was declared bankrupt And 25 Galeries Lafayette stores have been placed in protective measures.

JD Sports, a group valued at around €10 billion, generates 30% of its turnover in the UK, 30% in the US and 30% in Europe. It employs about 70,000 people.

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