France-based footwear company Solemma, known for its Salamander and Reborn brands, has recently encountered financial difficulties. The company was initially placed in receivership on September 26 and later put into liquidation on February 23 by the Annecy Commercial Court in France. Unfortunately, this has resulted in the closure of 19 shops and the loss of around 100 jobs.
Last year, Grégory Cottier and Florian Wernert took over the Salamander subsidiary for the French and Belgian markets when it was in danger of closing down. Despite the receivership status in October, Cottier remained optimistic about the future of the company. He believed that this process would help resolve the cash flow issues and allow for the advancement of Reborn, a new shoe brand.
Initially, the company planned to sell three Salamander shops for €1 million as a means to bridge the financial gap. However, the liquidation process faced delays, with the original timeline being pushed from December to the end of March, and then to mid-May. These unexpected changes were confusing for Cottier. In addition, despite finding an investor and presenting a continuity plan, the Commercial Court rejected it.
Cottier expressed shock and concern for the employees impacted by this abrupt decision. The timing and outcome of the liquidation were harsh and unforeseen. Prior to these developments, Cottier had shared his vision for the Salamander brand with FashionNetwork.com. His plan involved transforming the brand into Reborn, a multi-brand shoe concept store that also emphasized social and environmental responsibility. The first Reborn shop was successfully launched in Strasbourg.
Undoubtedly, these recent events pose a setback for Solemma and its efforts to rejuvenate the Salamander brand. Nonetheless, the company remains hopeful and determined to find a solution to its financial challenges and continue the growth of Reborn.
Useful links:
1. Solemma Official Website
2. FashionNetwork.com
