The iconic Parisian department store BHV placed in receivership

The BHV department store was placed in receivership on Monday, November 2, according to a document from the Economic Activities Court consulted by AFP. Demanded "urgently" by staff representatives, this procedure allows 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. 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, recently claimed not to be in default of payments.

But on Tuesday, 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 brand employs 700 people, according to September data. The establishment, 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.

Machine-translated from French