Go Sport: employees will know the name of the buyer on April 28

Europe 1 with AFP (photo credit: MAGALI COHEN / HANS LUCAS / HANS LUCAS VIA AFP) 19:33 p.m., April 18, 2023

The Commercial Court of Grenoble on Tuesday examined the takeover offers of Go Sport after taking note of the withdrawal of its current owner, Hermione, People & Brands (HPB), one of the companies of the Ohayon empire, putting its decision under deliberation to April 28. The afternoon hearing was devoted to the twenty takeover offers, two of which focus the hopes of employees: those of the British Frasers and Intersport France.

These are "two solid offers, but with radically different social projects," said the employees' lawyer Evelyn Bledniak. However, the 2,200 employees of the sports goods distributor will have to wait until April 28 to know the decision of the commercial court on the buyer of Groupe Go Sport and Go Sport France.

"It's unexpected not to end up like Camaïeu"

In the midst of financial turmoil, Michel Ohayon had delegated Tuesday an official of the Financière immobilière bordelaise (FIB), the holding company of head of his empire, to officially inform the court of the withdrawal of HPB, announced Monday evening in a statement. Mr. Spizzichino, HPB's lawyer, said his clients had been "prevented from presenting a recovery plan", specifying that they reserved the right to appeal against the procedure, but "not against the decision of a divestment plan".

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This lack of recourse against the sale plan was greeted by a "sigh of relief" of Go Sport employees who "want to get out of the lap of Michel Ohayon", according to Me Bledniak. "We will be able to prepare the future in our heads," said Laurence Labaurie, of the FO union, during the hearings of the buyers. "Thanks to these people, Go Sport is not going to die (...) It's unexpected not to end up like Camaïeu," she added.

"The court will decide"

After the liquidation of the Camaïeu brand (2,600 employees) last September, the HPB group's holding company, Financière immobilière bordelaise (FIB), declared itself insolvent, the Gap brand (350 employees) was placed in receivership and 25 Galeries Lafayette stores were put in safeguard proceedings. In its final offer, Frasers' subsidiary, Sports Direct, committed to take over 75 stores, instead of 74 initially announced, and 136 of the 227 employees at the headquarters, instead of 117 initially taken over. In stores, Sports Direct is committed to taking over 1,477 employees, out of the 1,574 listed.

The group says it wants, "in a reasoned and progressive way over the next three or four years", to move Go Sport stores under the Sports Direct banner. Its reputation has often been overshadowed by its social practices, which have been the subject of strong criticism in the past, particularly on the working conditions of its employees. For its part, Intersport France has made a takeover proposal in joint venture with a Qatari company, Al-Mana, and proposes to take over 72 stores, 1,446 employees out of the 1,574 stores, and 185 employees of the headquarters (Go Sport Group), according to the file consulted by AFP.

"Intersport is ready to take on the match with the Go Sport teams. The court will decide," commented Jack Rihouet, the CEO of Intersport, after his hearing, to some applause from employees. The other buyers are local companies, some of which are franchised under the Sport 2000 brand, or groups such as Centrakor Stores, La Foir'Fouille or even Lidl. They offer partial takeovers of Go Sport assets and employees.

Terre de Running proposes to take over the Endurance Shop brand and its employees

The "small" candidates for the resumption marched in turn Tuesday afternoon in court. The company Terre de Running, for example, proposes to take over the Endurance Shop brand and its employees. "We are colleagues and share the same passion, we felt legitimate to position ourselves on the recovery," explained Stéphane Réoupenian, the general manager of Terre de Running. The parent company Groupe Go Sport brings together the activities of the distributor's headquarters, in Sassenage near Grenoble, and 46 master franchise stores internationally. Its subsidiary Go Sport France brings together 82 integrated stores, 87 franchised stores (Go Sport and Endurance Shop) as well as online sales.