Marseille-based ready-to-wear company JOTT, which employs nearly 200 people, was placed in court-ordered receivership on Thursday, a source close to the matter said on Friday, confirming a report by La Provence.
JOTT had to rationalise its network – DR
Mode in Sud, an association of the region’s fashion companies, described the news as “significant for our fashion ecosystem in the South,” in a press release. “JOTT is not just a local company, but a Marseille success story,” said Jocelyn Meire, president of the Mode in Sud association.
According to the judgment seen by AFP, the Marseille Court for Economic Activities, noting that SAS JOTT was insolvent, opened receivership proceedings.
The court set a provisional six-month observation period.
The Marseille-based company, whose majority shareholder is the L Catterton fund, has had two very complex financial years. After injecting 18 million euros in 2024 to address the company’s operational difficulties, shareholders had to contribute 99 million euros last April to persuade creditors to support the company, as FashionNetwork.com reported in mid-December.
The company has been led since the summer by Thierry Miremont, a turnaround specialist.
An interim hearing is scheduled for February 5 to “verify, in light of the report, whether the company’s financial capacity is sufficient to ensure the financing of its operations, and to rule on whether to continue the observation period or possibly convert to judicial liquidation.”
JOTT employs 183 people, with salaries paid up to date for the month of November, and has a turnover of 24 million euros, according to documents provided to the court.
Founded in 2010 in Marseille, the JOTT, or Just Over the Top, brand made a name for itself with its lightweight, colourful down jackets.
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