PARIS — Crippled by business lost due to the coronavirus shutdown, French apparel and accessories company Groupe Vivarte is seeking court protection for one of its key labels, La Halle, as it restructures the company’s debt and mulls a broader restructuring of activities.
Vivarte estimates a 106 million euro loss in sales for La Halle, between March 15 and May 11 — the date currently set for the gradual easing of lockdown measures in France. Vivarte’s other labels, including Carol and Minelli will not be affected by the move, the group added. France’s retail sector had already suffered a series of blows before COVID-19 struck and prompted the shutdown of all nonessential commerce in the country. Yellow vest protests that started in 2018 became violent, closing down city centers across the country, and then pension reform protests flared up last year during the crucial holiday shopping period.