French Fashion Brand MORGAN Enters Bankruptcy Procedure
Morgan, the famous French clothing brand Morgan, entered bankruptcy protection procedures due to financial crisis. France's "Le Figaro" 30 revealed that Morgan Garment Group 24, announced the loss of payment capacity to the commercial court, the commercial court approved the group to enter the judicial protection procedures.
The rapid decline of the global garment market this year has seriously affected the performance of Morgan Garment Group. Its British branch, which originally brought 30 million euros of turnover to the group every year, was bankrupt. Even though the influence of the British market was eliminated, the turnover of Morgan's garment group still shrank by 9%.
Apax, a private equity fund holding 40% of Morgan, started looking for buyers early this year, but the negotiations ended in failure as the banks refused to budge on the 30 million euro debt problem. In addition, Morgan clothing group also has a lawsuit for interrupting commercial cooperation.
Morgan's clothing group was founded in 1968. In the 90s of last century, it was famous for its famous model Cara Bruni, lestia Costa and tennis star yyk Nuo A. As of June this year, it has more than 500 outlets and outlets in more than 50 countries and regions around the world.
- Related reading
- Industry Overview | Hundreds Of Textile Industry Standards Are Listed In The Second Batch Of Standard Revision Projects In 2019.
- Industry Overview | Cotton Purchase In Akesu Area Of Xinjiang
- News Republic | 2019寧波時(shí)尚節(jié)暨第二十三屆寧波國(guó)際服裝節(jié)新聞發(fā)布會(huì)
- Fashion shoes | 亞瑟士 GEL-BND 兩雙秋季全新配色鞋款下月發(fā)售，前衛(wèi)新風(fēng)尚
- neust fashion | 美棉|記憶匠心獨(dú)運(yùn)，演繹潮流與溫馨
- Instant news | Nike CEO Replace Ebay CEO Before Taking Over To Accelerate The Layout Of The Electricity Supplier
- Fashion shoes | Missoni X Adidas New Consortium Pulseboost HD Series Shoes Release
- Fashion shoes | Air More Uptempo 96 Shoes New Gradient Black And Red Color Release
- Fashion shoes | New Bellon Fresh Foam Trail New Shoes Series Debut, Huge LOGO Ornament
- Fashion brand | CLOT 2019 Tokyo Pop-Up Limited Shop Is About To Start, Or Will Bring Blue Silk?
- Britain Expects 09 Years Of Poor Clothing Management
- A Fiber Full Of Enthusiasm And Imagination.
- The Year Of The Ox Is Still Popular.
- Clothing Industry Needs Three Combinations To Overcome Difficulties
- Clothing Companies Exploit Color Added Value To Attract Customers
- The Clothing Industry Takes Culture Into The Brand.
- Cross Sea Bridge Promotes Garment Industry Upgrading In Yangtze River Delta
- China'S Clothing Industry: Seeking Direction In Adaptation
- How To Avoid Export Risks Under The Financial Crisis
- Hangzhou North Rim Silk Garment City Has Recently Reached Its Top.