Symbiose (ex-Sinequanone) placed in receivership
Cassidy STEPHENS
After Cop.Copine, San Marina
The procedure was initiated on December 15, 2022 by the Commercial Court of Paris, where the company is domiciled. The cessation of payments occurred on November 30. “Having the protection of the court is a necessity, our objective is to preserve jobs (75 employees, editor’s note). We will not give up and are focusing more than ever on the collections and our know-how,” says the management.
The Covid-19 crisis, which occurred just after the buyout, the weight of commercial rents and the slump in fashion consumption have impacted the brand’s activity. The management is keen to stress that the name change in September “did not lower the turnover”, and helped to increase its number of followers on social networks (it has 34,300 followers on Instagram
In the fall, the brand unveiled to FashionNetwork.com
Within the framework of the current procedure, the various options available to the brand (a recovery plan, a possible sale…) have not yet been decided by the management. A six-month observation period has been opened for the company, which achieved 4.5 million euros in sales in 2021.
In addition to its e-commerce site, which is due to be redesigned for spring-summer 2023, Symbiose relies on a network of thirteen branded boutiques (according to data from its e-shop), and around twenty corners in department stores including Printemps
SY, which has its own production workshops in Tunisia, has also owned the women’s fashion chain Naf Naf
