Naf Naf to request receivership

Paris - Employees at ready-to-wear retailer Naf Naf learned on Wednesday that management would request the company be placed into receivership “with a view to a continuation plan,” according to a CSE document seen by AFP.

A catastrophic scenario

“The catastrophic scenario that we feared is repeating itself, less than a year after the takeover by Turkish group Migiboy” following a previous receivership, the CFDT said in a statement. In June 2024, the Turkish buyer pledged to save 90 percent of jobs and retain around 100 of its own stores.

Contacted by AFP, Naf Naf management did not respond immediately. The company's employees learned the news at an extraordinary CSE held on Wednesday morning. In its opinion of the day, the CSE said it was “deeply shocked by the request for receivership, which comes less than a year after the takeover”.

The CSE criticised a “deceptive concealment of the company's real situation” by management in recent months. “Once again, employees are placed in a situation of extreme uncertainty and see their jobs threatened,” said the CFDT, which said that Naf Naf employs some 700 people.

These new difficulties for Naf Naf come in a particularly difficult context for textile companies in France, which have been hit by a violent crisis for several years.

Camaïeu, Kookaï, Gap France, André, San Marina, Minelli, Pimkie, Comptoir des Cotonniers, Princesse Tam Tam, IKKS, Kaporal: many brands have paid the price of this turmoil.