Shoe brand Minelli placed into receivership

Shoe brand Minelli was placed into receivership in September. The company had been acquired in early 2024 following a similar procedure, according to a decision seen by AFP on Thursday.

Founded in 1973, the brand, which primarily sells leather goods and shoes for women, was placed into receivership in September 2023 by the court in Marseille.

It was then saved by three buyers: investors and the clothing brand “Mes Demoiselles Paris”. The brand was integrated into a new entity, “Maison Minelli”. This latter entity was placed under a safeguard procedure on September 1 by the Paris economic activities court. The court appointed several judicial administrators for this purpose. The brand has not yet turned things around. Its first financial year, which ended in February 2025, resulted in a net loss of 4.2 million euros on sales of 22 million euros, according to the ruling. The court reported that turnover was seven million euros “below the director’s forecasts”. It also noted that “around ten of the acquired boutiques are loss-making”.

Minelli's rescue in 2024 came at the expense of many employees. The takeover plan at the time involved keeping just over 200 of the 600 employees. According to the court's ruling, Maison Minelli currently has a workforce of 171 employees. Its director hopes to relaunch the brand through “the closure of loss-making” points-of-sale and by “moving upmarket”, the court stated. Contacted by AFP, Minelli's management did not immediately respond. The judicial safeguard procedure is for companies in serious financial difficulty that, unlike in receivership, are not yet insolvent. In the best-case scenario, it can lead to a safeguard plan, which is what Minelli's management is hoping for, according to the court. An observation period has been opened until March 1, 2026, after which this potential safeguard plan may be approved. Numerous accessory and ready-to-wear brands have been placed into receivership in France over the past year and a half, such as Claire's, Jennyfer, Camaïeu, Burton of London, Gap France and André. Some of these brands are suffering in particular from competition from low-cost Asian sites, such as Shein.

This article was translated to English using an AI tool.

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