MS Mode will be able to relaunch in France after all, after Lille’s Commercial Court approved the re-opening of 44 MS Mode stores, saving 176 jobs in the process.
44 stores in relaunch
MS Mode continues its relaunch strategy, with France as its next step, following the Netherlands, Belgium, Spain and Luxembourg. Its French rebirth could have happened mid-December, but the judge did not agree to the recovery plan presented by its Dutch parent company. He did approve the acquisition of 21 of MS Mode France’s 134 closed stores: 19 went to ÏDKids Group, which turned them into Okaïdi and Oxybul stores, while 2 went to ladies’ fashion brand Christine Laure.
Roland Kahn and his associates have now received approval to relaunch the chain in France with 44 stores. The goal is to get the stores up and running again quickly so that it has both an offline and online channel. In fact, the latter already relaunched several weeks ago.
Adding the 44 French stores, MS Mode now has 200 stores in total: 95 in the Netherlands, 32 in Spain, 24 in Belgium and 5 in Luxembourg, about half of what its store network encompassed prior to the bankruptcy. In any case, its French relaunch is a major boost for the company, because the bulk of its group profit came from France. Its 2014 turnover in France reached 90 million euro.
