French denim label April 77 is in “administrative recovery”, a process similar to Chapter 11 bankruptcy protection in the US, but founder Brice Partouche said he was confident the business would be back on track for the autumn season.
The directional denim label, which is sold in 400 stores worldwide including at etailer Asos and at designer indies including Ran in Manchester, will continue as a smaller restructured company, according to Partouche, who plans to downsize the brand’s workforce and move to a smaller head office to cut costs.
April 77 is reported to have suffered financial difficulties, which prevented it from shipping its spring 10 collection and which forced the business to enter “redressement judiciaire” in the French courts.
Although April 77 has missed a season, Brice said creditors would be paid at a later date and added: “The brand is not dead. It has been put in administrative recovery. It gives us the opportunity to start again. It will not be closed and it’s going to be fine.”
Partouche founded April 77 in 2002. It quickly gained a cult following, with fans buying into its signature brightly coloured skinny-fit jeans.
The brand exhibited at the last edition of Bread & Butter Berlin on January 20-22.
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