France’s Rodez Commercial Court has declared the court-ordered liquidation of Tanneries Pechdo, marking the loss of one of the country’s few independent tanneries, its 33 jobs, and an industrial symbol of the Aveyron region.
Tanneries Pechdo
The ruling handed down on November 3 follows a lengthy safeguard procedure initiated before the court on December 11, 2024. The 5,000-square-metre industrial site in Aveyron had stood in the Plaine Coste area since 1900, and was awarded the Entreprise du Patrimoine Vivant (EPV) label ten years ago.
“We’re closing with a full order book,” manager Caroline Krug tells FashionNetwork, noting that the company had recovered after two difficult years, returning to €3 million in revenue. “And then, in mid-June, we had a fire — a dust collector, even though it was brand new, exploded. Production was halted for three weeks. And, for the first time in our history, we missed payments.”
Caroline Krug co-managed the company with the former owner from 2013, before taking full ownership in 2017. The company focused on fully integrated production, from French raw hides through to the finished product. It had notably specialised in technical leathers for personal protective equipment (PPE) for law enforcement, firefighters, and other professionals.
The manager says she has long been seeking a partner to support the company’s development, to no avail. “I think the future of tanneries in France is in the hands of the largest groups,” concedes the independent industrialist.
On the public-sector side, the manager mentions numerous meetings over the past year with ministers, generals, and legislators, with a view to securing a government order for the army via one of her clients. “There won’t be any French leather in it anymore,” ultimately laments Caroline Krug.
Tanneries Pechdo
The announcement of the liquidation prompted a reaction from across the industry, with messages of support posted on social media. This has left the manager of Tanneries Pechdo with a certain bitterness. “There are a lot of people who write to me very kindly and who are outraged, but they haven’t bought a single square metre from us for a very long time. Ultimately, a business runs on orders.”
Caroline Krug says she prefers to devote her attention to the company’s 33 employees, some of whom have worked at the tannery for 40 years. There is also concern for the company’s customers: “Some are at serious risk of closing because, without Pechdo, they no longer have their supply,” says the manager, who also points to the blow to Millau’s industrial heritage. “It’s quite a story, but you can’t just stay in history: you have to be able to carry it into the future,” laments the industrialist.
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The upcoming January edition of Pitti Uomo will mark Swaim Hutson’s debut as head of menswear design at rag & bone, unveiling his first collection for the New York-based brand for the autumn/ winter 2026–27 season.
Swaim Hutson
“rag & bone has always stood for authenticity and innovation,” Hutson commented. “I want to build on these values, creating menswear that is both enduring and immediate, capable of expressing the spirit of New York and engaging with a global audience.”
Hutson brings nearly two decades of experience in international menswear to the role. After founding Obedient Sons in New York- a CFDA/ Vogue Fashion Fund finalist- he held creative director roles at 3.1 Phillip Lim, Club Monaco, and Generra. He later launched The Academy New York, a label that has established itself within the fashion, art, and music communities.
“Swaim brings an innovative vision of creativity and craftsmanship, strengthening the essence of the brand: the elegance of British tailoring combined with the authenticity of American sportswear,” said Andrew Rosen, executive chairman of rag & bone.
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The newest ‘next-generation’ Frasers department store has opened at Queensgate Peterborough in the heart of the city.
Frasers Group
Spanning 60,000 sq ft across two floors, it brings together Frasers Group brands including Flannels, Sports Direct, USC, and Jack Wills under one roof.
The new destination “offers an elevated retail experience, providing access to the world’s most aspirational premium, lifestyle and sports brands”, across women’s, men’s, and kidswear, Frasers Group said.
It includes a dedicated 5,000 sq ft Flannels store, providing the Queensgate catchment “with the best in luxury and contemporary fashion, footwear, and accessories”.
This includes an extensive range of globally-recognised labels including Boss, Coach, Levi’s, Biba, Tommy Hilifger, Barbour, alongside sports brands under its Sports Direct banner, including Adidas, Nike, The North Face, Under Armour, New Balance, Everlast, Slazenger, Karrimor and USA Pro.
Ed Ginn, director of Investment Management for Queensgate operator Invesco Real Estate, said: “Frasers Group’s opening is the start of an exciting new chapter, and marks significant progress in our efforts to maintain Queensgate as a leading retail and leisure destination in the region and in the UK more widely.
“[The Frasers] addition… to the centre raises the bar for potential investment from brands to further enhance the shopping experience, as we continue to evolve Queensgate in a way that provides our catchment with everything they could need or want, in one place.”
Businessman Gerald Ratner has launched a surprise bid to buy the UK arm of the jewellery empire he famously trashed more than three decades ago after calling some products of his signature brand Ratners ‘total crap’.
Image: Ernest Jones
The businessman is seeking to acquire the British H Samuel and Ernest Jones chains from US-listed Signet Jewellers and install himself as chairman after he lost control of the businesses in the early 1990s, reported The Daily Telegraph.
Ratner has appealed to shareholders of the company as part of a bid to purchase the loss-making UK arm, which he said he has been “pursuing since the summer”.
The brands were once part of Ratners Group, the firm that he was forced to exit after he jokingly declared a few of its cheaper products were “total crap” in a speech at the Institute of Directors 30 years ago.
Ratner also remarked that some of the firm’s earrings were “cheaper than a prawn sandwich at Marks & Spencer – but I have to say, the sandwich will probably last longer than the earrings”.
The ensuing negative reaction from consumers and the wider business community gave rise to the phrase ‘to do a Ratner’ or destroy a valid business.
Ratner said he was attempting to acquire the UK division of Signet – which was formerly Ratners Group before it was rebranded – because he claimed its American owners were “doing everything wrong”.
The newspaper said that to launch his bid, Ratner has been in touch with Signet’s CEO. He’s understood to be backed by a consortium of primarily-British investors and has said they have the funds lined up.
He’s now launching an appeal directly to the company’s shareholders, who Ratner hopes should question why the US owners do not sell the loss-making division.
He told The Telegraph: “The reason we’re putting pressure on the shareholders is simply because of the fact that they’re doing so badly in the UK, they’re closing shops all the time and last year they sold their best shops.
“So we took the view that they’re not really interested in the UK. We approached them thinking that it’s in the interests of shareholders to just get rid of it.”
Signet is worth more than $3.7 billion (£2.8 billion) with a successful US operation but a loss-making UK division.