"The sale of Pimkie" by the Mulliez family association (AFM) "will soon be approved", a source familiar with the matter told AFP, confirming information from Challenge.
A conciliation hearing is scheduled for February 8 before the Commercial Court of Lille-Métropole, relating "to the conditions of the sale" and the "commitments" made by the seller and the buyer, said this source.
The brand, which employs 1,500 employees and has 232 own stores and 81 affiliated, announced in October that it had entered into exclusive negotiations to be acquired with the consortium made up of the Lee Cooper France, Kindy and Ibisler Tekstil groups.
According to Marie-Annick Merceur, CFDT union representative, the buyers "will be within the walls around February 16-17" and "in April, we should be told of a social plan with a hundred stores to close".
"The CSE expert assesses the number of jobs cut from 450 to 500" as part of this PSE (job safeguard plan) she says.
These elements were presented at a meeting of the CSE in December.
According to Ms. Merceur, the transfer operation provides that the AFM creates a financial structure "which will make it possible to finance this social plan, investments and future bank maturities".
Contacted by AFP, the management of Pimkie and Kindy declined to comment.
Another union source also anticipates a PSE which would concern around 500 employees, mainly employed by 100 stores which will be gradually closed between 2023 and 2025. According to her, the unions have already obtained guarantees on this future PSE, in particular on the supra bonuses -legal.
The AFM "will put 250 million euros, in stages", says this source.
"Mulliez will pay off his debts and support the financial recovery, but once they're gone, we're not sure it will last very long," she worries.
The buyers "have not presented any project that will make Pimkie better tomorrow. We continue to lose money and as much as the Mulliez family had strong backs (...) they do not have it", also regrets Mrs Merceur.
© 2023 AFP