Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The commercial court of Marseilles has ruled on the liquidation of the San Marina shoe chain, which will lead to its 680 employees becoming redundant. The company's current shareholders, Stéphane Collaert and Laurent Portella, were unable to present an offer for the company's takeover. The owners have stated that they were planning to remain minority shareholders in a takeover structure of 49 of the 163 shops, with around 200 employees, though the anticipated support from a major player in the Brazilian shoe sector did not occur.
The chain suffered after the ruling of the Court of Cassation, which made non-essential traders to remain closed during the 2020 spring lockdown, despite having to pay their rent.
Eurofound (2023), San Marina, Bankruptcy in France, factsheet number 108362, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108362.