For Le Coq Sportif, the effect of the Olympic Games has dissipated. Airesis, the parent company that owns 75% of the sports equipment manufacturer, announced on Friday, November 22, that the sponsor of the French Olympic team was in suspension of payments.
“Le Coq sportif relies on this procedure to respond to the challenges facing the brand, while at the same time wanting to protect its 330 employees and hundreds of indirect jobs”Airesis states in a press release. The company, in difficulties, announced at the end of October that it was looking “financing solutions”.
Airesis specifies that the equipment manufacturer had “He requested the opening of a judicial recovery procedure before the Paris Commercial Court”. “This request was examined by the court during a hearing that confirmed judicial recovery with an observation period of six months on the principle of continuity of operation”adds the press release.
“This recovery period is also an opportunity for the company to initiate and finalize conversations with new investors and strategic partners to sustain its activity and strengthen its economic model”details the company.
Airesis points out that “The objective is clear: to take advantage of the success of the Paris 2024 Olympic and Paralympic Games, which have already demonstrated Le Coq sportif’s ability to behave as a global brand, preserving and promoting French industrial know-how, true pillars of the identity. brand ».
The equipment supplier of the French delegation during the Olympic Games
According to its first half financial results published at the end of September, the group recorded a loss of 18.2 million euros, compared to a loss of 10.5 million in the first half of 2023 and 28.2 million throughout the year. last year.
Le Coq sportif, which equipped the French delegation during the Olympic Games, also obtained a loan of 2.9 million euros in May 2024 from the Paris 2024 organizing committee, of which, as of September 30, 150,000 euros remained. reimburse. The group also obtained a loan of 12.5 million euros from the French State in July, through BPI France Assurance Export.
The company is also in the middle of a conflict with the French Rugby Federation, which is demanding €5.3 million in non-payments from its former supplier.
