Immediate Judicial Liquidation For The Fashion House Sonia Rykiel

The famous Sonia Rykiel house was put into liquidation on Thursday, July 25. It was the Paris commercial court that ruled the fate of the Parisian fashion brand. The judgment falls three months after a placement in receivership due to financial difficulties.

Financial difficulties led to the bankruptcy of the famous Sonia Rykiel house

The famous French fashion brand has been facing serious financial difficulties since the death of its creator in 2016. Over the past few years, the company has struggled to find buyers. Its net losses amounted to 30 million euros (end of 2018), for a turnover of 35 million euros. In fact, in recent months, a dozen buyers had expressed their interest in the brand, but all of them finally gave up, leaving the impression that the ready-to-wear house simply cannot walk without Sonia Rykiel. The seamstress, free-spirited and independent, founded the fashion house in 1968 by offering her clients clothing without hems, tight-fitting sweaters, stripes of all colors, knit mixed with silk etc.. - a sassy and very particular style,against the trends of the time.

In 2012, the Sonia Rykiel house was sold to a Hong Kong family. However, its turnover continues to decline. In 2018, the company lost 30 million euros, which led to a placement in receivership, three months ago. A call for tenders was launched, the deadline of which, initially set for May 31, had been extended to June 12, then to July 18. Thursday July 25, the Paris Commercial Court declared the immediate judicial liquidation of the famous Parisian fashion brand.