Paris department store BHV placed under judicial reorganization

The iconic Parisian department store BHV was placed in receivership this Monday, November 2, a new twist in a long series of events for this company in difficulty. The Paris Economic Activities Court has decided to open "a legal recovery procedure" with regard to 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 Île-de-France, according to a document consulted by AFP. The brand employs 700 people, according to September data.

Last week, the company's management 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 department store, sold 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 unveiled a recovery plan supposed to bring the department store back afloat, but encountered a lack of cash flow, due in particular to a dispute with the Canadian fund Brookfield, owner of the premises, which strongly contests this version.

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Machine-translated from French