Le Coq Sportif may be on the verge of collapse: the French sportswear brand has been placed in receivership to enable a financial reorganisation. The label’s owner says he still believes in the future.
Olympic save?
Despite its iconic status in France, Le Coq Sportif is facing significant financial losses. In the first half of 2024, the company reported a loss of 18.2 million euros – significantly worse than the loss of 10.5 million euros in the same period a year earlier. Although the brand made the outfits for the French delegation at the 2024 Olympics, it is struggling to get its mountain of debt under control. These issues were not helped by a legal dispute with the French rugby federation over unpaid debts.
Parent company Airesis, which owns three quarters of Le Coq Sportif’s shares, has announced that the brand has been placed in receivership by the Paris commercial court. A six-month observation period will follow to ensure operational continuity while the owner has time address the financial challenges.
Still, Airesis says it is still optimistic about Le Coq Sportif’s future and sees the reorganisation as an opportunity to attract new investors and strategic partners. The company hopes its visibility during the Olympic and Paralympic Games can contribute to international recognition and growth.
