Equipment manufacturers: Le Coq Sportif placed in receivership with a 6-month observation period

Le Coq Sportif has been placed in receivership "with an observation period of six months on a going concern basis" by the Paris Commercial Court on 22/11/2024, confirmed Airesis, holder of 75% of the French brand's shares, the same day.

"Le Coq Sportif relies on this procedure to address the challenges the brand is facing, while at the same time protecting its 330 employees and hundreds of indirect jobs. This procedure is also an opportunity for the company to initiate and finalise discussions with new investors and strategic partners in order to perpetuate its activity and strengthen its business model," said the Swiss group.

Faced with "significant financial pressures, particularly in terms of cash flow" and with a view "to secure the necessary funding for ongoing operations", Le Coq Sportif had mandated an investment bank "to assist it in finding suitable financing solutions," according to a press release published by Airesis on 30/10/2024.

These announcements confirm the financial difficulties of the brand based in Romilly-sur-Seine (Aube, FRA) already highlighted by Airesis when…