GREEN LIGHT: French lacemaker Sophie Hallette has won the bid to acquire Codentel, an ailing compatriot industrial lacemaker that entered receivership in December, according to a decision handed down by a French court on Monday.

It comes less than a week after Sophie Hallette’s parent company Groupe Holesco received a minority investment from Chanel, as reportedGroupe Holesco said it will invest a total of 1.03 million euros, or $1.16 million at current exchange, in Codentel and preserve 36 jobs at the company.

A Chinese firm was among the other bidders for Codentel, and it won on March 31 the right to take over another ailing French lacemaker Desseilles, which Groupe Holesco had bid for, too.

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