Le Coq sportif is looking for funds again. The sports equipment manufacturer announced that it was “search for financing solutions”, Wednesday, October 30, via press release. “Le Coq sportif is currently facing significant financial stress, especially in terms of cash flow, with the months of October and November being particularly exposed, as every year, during product seasonal changes”writes Airesis, its Swiss parent company, an investment company owned by businessman Marc-Henri Beausire.
The situation is such that “The company has hired an investment bank to help it find suitable financial solutions”. In May, two months before the start of the Paris Olympic and Paralympic Games (JOP), the company obtained a loan of 2.9 million euros from the Paris 2024 Organizing Committee. In July, the State, through the Bank of Public Investment, granted it. another loan worth 12.5 million euros.
Le Coq sportif, which had managed to equip the French delegation during the JOP, under the Lacoste beard, in 2020, has found itself in a complicated situation for several years. In the first half of 2024, despite this contract, the group increased its losses: they reached 18.2 million euros compared to a loss of 10.5 million euros in the first half of 2023 and 28.2 million euros in the whole of 2023. In 2022, its losses amounted to 2 million euros for a turnover of 139 million euros. In addition, the company, whose historic factory in Romilly-sur-Seine (Aube) employs 170 people, is in dispute with the French Rugby Federation; He demands 5.3 million euros in outstanding debts.
Airesis, a company listed in Switzerland, warned that “its 2024 results will show a significant loss.” The press release also highlights the impact of “Significant investments have been made to support visibility. [du] Sports coq » during the Olympic trials and the restructuring costs of another brand, Movement. To believe it, “These initiatives (…) weaken the general situation of the group”.
