Naf Naf: After sale, eleven shops in search of a buyer

In mid-June, Turkish manufacturer Migiboy Tekstil acquired women’s fashion chain Naf Naf, which was placed in receivership in September 2023. It took over 90% of the 570 jobs and opted to keep 100 directly-operated shops and 51 affiliates. Eleven branches will not be retained. The bodies involved in the procedure have therefore launched a call for tenders to identify buyers.

According to the document circulated by the receivers, the eleven businesses are located in Chenôve (near Dijon), Saint-Médard-en-Jalles (Bordeaux), Nantes (Beaulieu shopping centre), Semécourt (Metz), Faches-Thumesnil, Coquelles, Barentin (Rouen), Dieppe, La Valette-du-Var, Le Pontet (Avignon) and Nailloux (outlet). All these units are located in shopping centres or business parks.

The deadline for submitting bids is July 15 2024. The Bobigny Commercial Court will examine the bids on the following day before making its decision in the following days.

The Franco-Turkish group SY International took over Naf Naf in 2020, already at the helm of the court. The mid-range chain suffered from the consequences of the health crisis, having become heavily indebted due in particular to unpaid rents during the pandemic. This led to a new reorganisation and a change of ownership.

The chain, founded by the Pariente brothers in 1973, generated sales of 141 million euros in 2022, with a net loss of 14 million euros.