French footwear brand Minelli, which was bought in early 2024 after going into receivership, entered a protection procedure in September, according to a court ruling gleaned by the AFP agency on Thursday.

Minelli, a footwear and leather goods brand whose products mostly target a female clientèle, was founded in 1973. It was placed in receivership by the Marseilles trade court in September 2023.

It was then rescued by three buyers, two private investors and apparel brand Mes Demoiselles Paris, which incorporated Minelli into a new entity called Maison Minelli.

On September 1, Maison Minelli was placed under a protection procedure by the Paris trade court, which has appointed several receivers.

For the time being, the brand hasn’t formally defaulted. In its first fiscal year, ended in February 2025, Maison Minelli recorded a net loss of €4.2 million, and revenue of €22 million, according to the court, which added that the revenue result was €7 million “below the management’s forecast,” since “a dozen of the stores that were bought turned out to be unprofitable.”

Minelli’s 2024 rescue involved significant job losses. The buyers’ plan at the time envisaged that only a little over 200 of the brand’s 600 employees would remain in their jobs.

According to the recent court ruling, Maison Minelli currently has 171 employees.

Management is hoping to relaunch the brand by “closing down unprofitable stores” and through “a new, more upmarket positioning,” according to the court.

Contacted by AFP, Minelli’s management has not yet responded.

A protection procedure is a solution for companies in severe financial difficulties which, unlike the case of a company in receivership, haven’t yet stopped paying their creditors.

In the best-case scenario, the procedure may lead to a turnaround plan being deployed, as Minelli’s management is hoping to do.

Maison Minelli will be monitored by the court until March 1, 2026, when a ruling on a potential recovery plan will be issued.

In the last 18 months, a number of ready-to-wear and fashion accessories brands have been placed in receivership in France. Some of them have been severely affected by the competition of ultra low-price Asian e-tailers like Shein.

Paris, October 2, 2025 (AFP)