BUYING TATI: French discount clothing retailer Tati, in the equivalent of Chapter 11 bankruptcy protection since last September, has a new owner. On Thursday, Paris’ commercial court accepted Vetura’s bid of 14.5 million euros, or $17.4 million at current exchange rates, for the beleaguered chain. Vetura’s offer edged out a rival proposal by Lyon-based textile company Asiatex. Vetura president Lucien Urano said he expects to keep 667 of the 997 Tati employees and 23 of the 29 French stores. Worried about their fate, hundreds of Tati employees have been demonstrating in front of the courthouse this week. Faced with the fast-fashion juggernaut led by the likes of H&M and Mango, Tati has been retrenching in recent years, closing international branches including New York’s Fifth Avenue location. Vetura, a subsidiary of shoe chain Eram, has set a press conference for Monday to outline its strategy.

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