The Parisian store is in receivership: the Paris economic court is looking into the situation of BHV

The financial situation of BHV must be examined on Friday by the Paris Economic Affairs Court, even though at the same time the company has just requested its placement in receivership with the Lyon courts. The SEGM BHV, which notably includes the historic Bazar de l'Hôtel de Ville, an institution in the heart of Paris for 170 years, and the BHV Parly 2, within this shopping center in Yvelines, in Ile-de-France, recently claimed not to be in cessation of payments. “Building safety shortcomings” On Tuesday, the management of the company admitted to being bankrupt and announced that it had requested its placement in receivership, in order to “preserve activity and employment” and “secure its recovery plan”.

The brand employs 700 people, according to September data. Requested "urgently" by staff representatives, this procedure would allow the opening of a six-month observation period, renewable for six months, at the end of which a plan for the group's continued activity can be presented to the court. At the same time, a hearing is being held on Friday before the Paris Economic Affairs Court (TAE) which will examine, according to a union source, a report from the labor inspectorate, which already this summer suspected BHV Marais of being in default of payments.

The mayor of Paris Center Ariel Weil also denounced "a series of failings in terms of building security" and "the absence of payment of social security contributions", in a report sent to the public prosecutor's office that AFP consulted, confirming information from Le Parisien. The choice to file its request for judicial reorganization with the Lyon TAE, despite the hearing scheduled for Friday in Paris and while its head office moved from Lyon to the capital in February, is due to a creditor assignment procedure opened "several months ago" in this jurisdiction, according to a BHV spokesperson. “Discussions are underway between the BHV councils and the two TAEs to identify the competent jurisdiction.

We will go to Lyon or Paris depending on the outcome of these discussions," she explained. The department store, resold at a loss in June by Frédéric Merlin's SGM to some of its managers, has been going through a lot of turbulence for several months. During the summer, the management of BHV Marais had unveiled a recovery plan supposed to put the department store back afloat, but had encountered a lack of cash, due in particular, according to her, to a dispute with the Canadian fund Brookfield, owner of the premises, which is contesting firmly this version.

“Continuing with the current leaders is doomed to failure. Only a solid and well-financed recovery project would make it possible to maintain activity and save some jobs,” staff representatives said in a press release on Wednesday.

Machine-translated from French