A new operator to the rescue of Naf Naf. The French company, which declared bankruptcy in September 2023 and was looking for candidates to be rescued, has been absorbed by the Turkish company Migiboy Tekstil and has taken over one hundred of the French company’s stores.
The company has invested a total of 1.5 million euros to close the operationwhich has meant retaining close to 90% of the Naf Naf workforce, which represents 521 jobs, of the 670 employees that Naf Naf currently has in France, according to progress Fashion Network
At the moment the details of the restructuring plan have not been specified.. For its part, the textile manufacturer Migiboy Tekstil is owned by the Campolat family and employs about a thousand people between the three factories it has distributed in Turkey.
The hundred Naf Naf stores have passed into the hands of the textile manufacturer Migiboy Tekstil
In debt due to non-payment of rent during the pandemic, Naf Naf entered bankruptcy in September 2023. At the beginning of March, the Bobigny commercial court validated the extension of the observation period for the trademark, within the framework of this procedure, with six additional months, until September 6, 2024.
In March, the court annulled the employment protection plan (PSE) decided by the company in October 2023, due to a lack of control by the regional interdepartmental directorate of the economy, employment, work and solidarity of France. This social plan involved the elimination of 88 indefinite contracts, 26 terminations of fixed-term contracts and study and work contracts, as well as 47 modifications of employment contracts.
Naf Naf currently employs 676 people in France and has 111 branches and 59 affiliated establishments. Founded in 1973 by two brothers, Gérard and Patrick Pariente, the company was acquired by the Vivarte group in 2007 before being sold in 2018 by the French fashion distribution giant to the Chinese group La Chapelle.
The company declared itself in receivership in May 2020 and was then taken over in court by the French-Turkish group SY International, which employs more than 1,000 people worldwide and which had already acquired the Sinéquanone brand in 2019.
