France: Go Sport, in a situation of cessation of payments, placed into receivership

The commercial court of Grenoble (Isère, France) has placed Groupe Go Sport (2,160 employees), a licensed sports goods distributor based in Sassenage (Isère, FRA), into receivership, announced the body on 19/01/2023. 

"In a well-reasoned judgement, the court noted the state of cessation of payments of the company Groupe Go Sport," it said, citing the report by Eight Advisory - Associés, which established liabilities of more than €14m as of 05/01/2023.

"Two administrators and two judicial representatives have been appointed for an initial six-month observation period (until 19/07/2023), in order to manage the company in the best interests of employees and creditors, under the supervision of the judges and the public prosecutor's office," added the commercial court. 

Go Sport France (a subsidiary of Go Sport Group) is not in a state of suspension of payments, "but its situation will be affected by that of its parent company," continued the court.

Furthermore, Groupe Go Sport, which has belonged to the HPB (Hermione, People - Brands) holding company since 2022, is the subject of an…