SMCP’s shareholders met in a general meeting on Friday and dismissed the Chinese group’s representatives from the board. Christophe Chenut, Xavier Veret and Natalia Nicolaidis have been named in their place.
An ownership battle at SMCP heated up on Wednesday as major shareholders claimed a 16% stake in the French fashion group had been illegally transferred to an offshore account, and a meeting to force a boardroom reshuf...
The Paris trade court has ruled in favour of the creditors of SMCP’s Chinese owners. The creditors hold a 29% stake in the fashion group and wanted to convene an AGM to solve the group's ownership issues.
A group of bondholders including asset manager BlackRock and an affiliate of private equity firm Carlyle has become the top shareholder in French fashion company SMCP, taking on a 29% equity stake it now wants to sell.
The owner of SMCP said on Wednesday it had started legal proceedings against companies serving bondholders it alleged were seeking to take control of the Sandro, Maje and Claudie Pierlot owner at a low price.
Playboy-owned Honey Birdette, the upscale lingerie label, is targeting more UK stores with a focus on London. It wants to secure two new London sites, doubling its presence in the city, after UK sales surged in 2020.
With Topsoho likely unable to repay the €250 million bond debt that matured on Tuesday, its creditors could acquire a 53% stake in Topsoho-owned SMCP, only to perhaps decide to sell it, as FashionNetwork.com has learned.
European Topsoho, owner of the SMCP group and a subsidiary of China's troubled Shandong Ruyi group, seems unable to repay its bond debt maturing on Tuesday, and its creditors might acquire a stake in the company.