The turnover would have increased from 274 million euros in 2024 to 170 million euros in 2025: BHV requests its placement in receivership

If the rue de Rivoli brand celebrates its 170th anniversary this month, the BVH management will face a decisive hearing on Friday October 30 before the Paris Economic Affairs Court. On October 27, she asked the consular judges for her to be placed in receivership. All the lights turned bright red despite the denials of Karl-Stéphane Cottendin, its general director. The latter took over the operation of the department store with three executives last June, after the departure of his partner, the Lyon entrepreneur Frédéric Merlin, founder of the Société des Grands Stores (SGM), which succeeded Galeries Lafayette in 2023.

For months, management has been hiding in silence. Karl-Stéphane Cottendin did not respond to the auditors of Grant Thornton, who launched an alert procedure at the beginning of September against SEGM BHV, noting facts likely to compromise the continuity of its operations.

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Urssaf debts would be around 8 million

According to our information, the company has accumulated heavy debts with Galeries Lafayette in particular (60 million euros) and hoarded 98 million by not paying its suppliers. Urssaf debts would be around 8 million and exceed 2 million with the tax authorities for non-payment of salary taxes. At the same time, turnover would have increased from 274 million euros in 2024 to 170 million in 2025, and fallen to 21 million for the current financial year. Brands and customers continue to flee. A series of bad news which compromises the future of this symbol of Paris.

Machine-translated from French