On December 12, the Paris Economic Affairs Court announced its ruling in the case concerning the IKKS Group, which has been in administration since late summer. The proposal from Financière Saint James, led by Michaël Benabou in association with Santiago Cucci, was selected, involving the takeover of 92 directly operated stores and 27 Galeries Lafayette shop-in-shops, safeguarding 546 jobs across the brand’s directly operated network.
The Boulevard des Capucines flagship in Paris – Shutterstock
This ruling, in effect, left the liquidators to find a solution for more than half of the company-operated network in France. A2MJ and Asteren are handling the case, which concerns 96 outlets. Two sessions, each with a different store list, have been announced for the disposal of these sites held by IKKS Retail and IKKS Group. Each features prime addresses in key cities across France.
Prospective buyers must submit their proposals in person to Maître Van Kemmel, Commissaire de justice at the Paris Economic Affairs Court, by January 22 for the first session. This includes locations such as 8–10 rue Barbette in the Marais district of Paris, 65 rue du Président‑Herriot on the Presqu’île in Lyon, a unit in the Parly 2 shopping centre, another in the Les Terrasses du Port shopping centre in Marseille, as well as the Cap 3000 shopping centre in Saint‑Laurent‑du‑Var, and 5 rue de Toulouse in central Rennes. The offering also includes several stores in outlet centres across France.
Bids for outlets in the second session must be submitted by February 5. These include stores on rue Saint‑Aubin in Angers, avenue du Général de Gaulle in La Baule, and rue Saint‑Jean in Le Touquet. However, candidates are likely to move quickly for spaces on the highly fashionable rue Paradis in Marseille and for prime Paris addresses at 31 boulevard des Capucines, 5 rue de Sèvres, 13–15 rue Tronchet, and the three sites on the quintessentially Parisian rue des Ternes.
This presents a wealth of opportunities for retail players to secure prime pitches on flagship shopping streets in major cities.
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