PARIS — Knowing denim is a hardwearing fabric, Marithé + Francois Girbaud hope to re-activate their fashion company following a court-ordered liquidation this week.
The decision by the commercial court in Paris affected three firms related to the brand — Cravatatakiller, Sabatoun and MFG Services — and shuttered five company-owned boutiques in Paris, one in Lyon and two in Belgium.
Approximately 80 employees are affected by the shutdown.
Franchise boutiques in Nantes, Toulouse, Bordeaux, Biarritz, Perpignan, Montpellier, Strasbourg, Tours, Grenoble and Metz in France, along with Casablanca and London, are to remain open as the founders and company president Denis Noharet continue talks with an unnamed foreign group to re-launch the brand later this year or early in 2014, a Girbaud spokeswoman said.
She noted that spring 2014 collections would not be produced following the cancellation of its worldwide master license with Indian company Fibres & Fabrics International.
Marithé + Francois Girbaud filed for the French equivalent of Chapter 11 bankruptcy protection last year, but missed the court-imposed deadline to find a solution.
Known for its innovative washes and high-tech treatments, the French brand, founded in 1964, has been losing steam since the global economic downturn.