The French clothing chain Kookaï which has a forty-year history was taken over by the Paris commercial court on February 1st.
The company attributes the bankruptcy proceedings to the “economic difficulties faced by the ready-to-wear sector in Europe” and the acceleration of the crisis by the COVID-19 pandemic. The company also commented that the harsh reality is that they lack funding and bank support to renovate stores, reach more young women, and undergo digital transformation.
Kookaï’s management sees the court takeover as an “opportunity to bounce back and …
