The brand should have celebrated 100 years of activity next year, but it may end up not being able to. Historic French footwear brand JB Martin is in liquidation, as decided by the Paris commerce tribunal. 125 employees will be left unemployed. These individuals worked in two different areas: the first group in production under the JB Martin name (45 employees), while the 2nd group was involved in the commercial branch called Martin Diffusion (80 employees). All stores have been shut down and no buyers made an offer for the company.
JB Martin in liquidation
JB Martin stopped 1 year short of its 100th year of activity. Paris’ commerce tribunal ordered the company headquartered in Fougères, to go in liquidation. As reported by Ouest France, the company’s president Pascal Franchet, pointed out that this is liquidation will also mean a “full stop of all activities”, something that he was hoping to avoid. The court was not satisfied with the continuiuty proposals made by the company. The decision also included the shutdown of the 10 stores located in France and all other sale activities, included those inside Galeries LaFayette and Printemps department stores.
Layoffs
As set by the liquidation procedure (occurring now), the employees are being currently laid off. “The company’s assets and activities are being sold”, said Pascal Franchet to the French news source. The company is now collecting unsold products to be completed by the sale of its other commercial assets, probably via auction. Will the brand survive? Hard to say, since that there are no interested buyers/investors as of now.
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