Two bidders battle to acquire troubled Lejaby

Two potential bidders have come forward with offers to buy insolvent French lingerie maker Lejaby.

The first bid, received earlier this week, was from a France-based pension fund. It was reportedly for just €1, but came with the promise of a restructuring plan that would save 135 jobs out of the 450 currently employed by the lingerie house.

A second bid was reported on Friday from Pacific Junction Corporation, a UK-registered company thought to be acting on behalf of an unnamed French firm.

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Lejaby was put into judicial administration by a Lyon court for a period of six months in October after the company filed for protection following cash flow difficulties bought on by deteriorating trading conditions.

The company continues to trade normally as it looks for a buyer and works on restructuring plans.

Lejaby chairman Raymond Mahé said in October: “Faced by the company’s current situation, I have decided to honour the company’s staff commitments, notably with regard to payment of salaries, and to ensure the continuity of the business in order to meet the needs of our customers”.

The judicial administration period applies only to Lejaby SAS and not to UK branch Palmers Lejaby UK Ltd, which exists as a separate legal entity.

 

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