Last spring, the financial indicators were favourable and Barbara Bui returned to profit in its 2024 financial year. This marked an important milestone, given that in July 2024 the French brand had placed itself under the protection of the Paris Commercial Court (now the Economic Affairs Court) by filing for receivership. Founded in 1987 by the eponymous designer and its CEO, William Halimi, the company remains 65% owned by its founders and their families, with the free float accounting for 35% of the capital of the Euronext Paris-listed company.

In 2024, the company recorded growth but struggled to finance it owing to the absence of a banking partner, according to management.

“We had entered the Covid period with a healthy business, because we had made organisational efforts beforehand. As with many companies, the pandemic had a significant impact on our sales. Fortunately, the state‑guaranteed loan (PGE) was a very effective mechanism that enabled us to cope,” recalls William Halimi. “But the issue was that the scheme didn’t anticipate that the economic consequences would persist for more than two years. And repaying the loans over five years, when business was still sluggish, was very onerous. We should have been able to spread these repayments over the longer term.” The executive then found that, with the PGE and a textile sector deemed risky by banks, the company was unable to secure banking support.

“In our line of work, bank credit lines are essential to finance growth. But all too often, bankers lump all brands into the same ‘textile’ category. We are positioned in luxury, with distinctive creations and an international growth focus. It’s not the same risk profile as a mid-market brand with a heavy domestic retail network limited to France.”

After more than two years of financing growth, management resigned themselves to filing for receivership. “It was a difficult decision for us. This brand is our baby. In a way, it cast a shadow over the company and our work,” recalls the co-founder. “And in reality, it was a wonderful experience. Right from the start of the procedure, our case was very well received, with strong engagement from the court and the administrators. As a listed company, we’re used to setting a clear course and keeping our commitments. And I really got the feeling that they were all there to save Barbara Bui.”

For the CEO, receivership allowed the company to continue operating. The brand then worked by focusing on its fundamentals, reducing the number of SKUs, prioritising its directly managed operations, and seeking savings in order to move closer to break-even.

In 2024, sales rose by 3% to 12.4 million euros. Above all, it generated a net profit of 242,000 euros, while reducing its operating loss. Its gross margin improved significantly. A trend that continued in 2025. These advances enabled the company to emerge from receivership on a high note, with the court approving its continuation plan on January 9.

As part of this plan, the company restructured a declared debt of 10.3 million euros, of which 5.3 million euros were officially recognised after analysis of the declarations by the administrators. This restructuring strategy rests on three main levers: securing 600,000 euros in debt waivers agreed with partners; bullet repayment at maturity of 1.1 million euros in shareholder current accounts provided by the co-founders; and spreading the remaining balance of 3.2 million euros over a period of nine years.

Barbara Bui can rely on its three Paris boutiques, located on avenue Montaigne, rue de Grenelle, and rue des Saints-Pères, whose sales are rising steadily.

According to the company, which will publish its sales figures for 2025 in the first quarter of 2026 and its annual results at the end of April, last year saw double-digit growth in its direct sales channels, with a 14% increase in the Paris boutiques and a 65% increase on its e-commerce site.

The brand, which plays with revisited tailoring and references to rock and new wave, all with high-quality materials, is also distributed through around 100 multi-brand retailers worldwide, compared with 140 before the receivership was announced.

“Our entire team of around sixty people was fully involved during the receivership, and this resulted in superb performances in our boutiques,” explains William Halimi. “But receivership often paralyses retailers. Now that we’re out of the procedure, we’ll be able to win back some of our former partners, who will be reassured.”

The brand, which continues to self-finance its development, is preparing new propositions to appeal to export markets, which already account for a quarter of its business, in the coming seasons. And it is embracing a modest but profitable growth strategy to assert its uniqueness in the market.