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Gap France: JD Sports takes over 9 stores and 214 employees
The Grenoble commercial court made its decision on Thursday May 11 in the Wilsam case, the company that oversees the activities of the American retailer Gap in France, and which has been managed by Hermione People & Brands for the past two years. Among the four candidates, the British group JD Sports was chosen: it will take over 9 of the 20 Gap stores in France as well as 214 of the 366 employees.
JD Sports, via its company Spodis which supports its network in France, is definitely active in the country, as it has just indicated its intention to buy the sneaker brand Courir. A transaction that should be finalised in the second half of 2023.
In the case of Gap France, "the takeover of 214 jobs comes from 19 stores, the head office and two corners", states a press release from the public prosecutor's office, adding that "the takeover proposition by Spodis gives the best guarantees of maintaining the activity and employment." The sale price for the Gap France assets taken over by JD Sports is 300,000 euros.
With these nine new stores added to its network (including five in Paris, Boulogne-Billancourt, Lille and Lyon Part-Dieu), JD Sports, which has 146 shops on the French market, intends to "accelerate its development in France," as the Grenoble prosecutor points out.
The other candidates for the takeover, namely Hema, Intersport and Triangle International Investissement, have either withdrawn their bids or had their applications deemed inadmissible.
Part of Michel Ohayon's collapsing empire since 2021, Gap France was placed in receivership at the beginning of March, facing liabilities of nearly 6 million euros.
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