By
AFP
Translated by
Roberta HERRERA
Published
April 2, 2025
Two potential buyers, including one backed by the French government, have come forward to acquire Le Coq Sportif, the French sportswear brand currently under judicial reorganization. In an effort to facilitate the sale, the Grand Est region has agreed to write off 50% of the company’s outstanding debt.
Le Coq Sportif, which was placed under court-ordered protection in November, supplied the French Olympic delegation during the Paris 2024 Games. Founded in Romilly-sur-Seine (Aube), the brand employs around 300 people in France.
“Two buyers have expressed interest. At this stage, only one appears able to submit a viable recovery plan,” reads a report presented by Franck Leroy, president of the Grand Est region, which was approved on Friday.
According to the document, one of the bids is backed by the French state. It proposes to preserve operations at the Romilly-sur-Seine site and offers better terms for both public and private creditors. The alternative proposal, by contrast, reportedly involves the sale of licensing rights abroad.
In April, the court-appointed administrator is expected to consult creditors—including the Grand Est region—on a proposed partial debt forgiveness plan designed to enable the takeover. The Paris Commercial Court will then need to approve the recovery plan.
On Friday, the regional council voted in favor of canceling 50% of its €2.4 million claim against Le Coq Sportif—equivalent to €1.2 million—and rescheduling repayment of the remaining half over a ten-year period.
In 2021, the Grand Est region granted the brand a zero-interest loan of €2.65 million over 11 years to help restructure its historic factory in Romilly-sur-Seine, aimed at ramping up production for the 2024 Olympic Games.
Le Coq Sportif reportedly owes between €60 million and €70 million to public institutions, including €42 million in loans granted by the French state.
The company did not immediately respond to AFP’s request for comment. Its parent company, Swiss investment holding Airesis, also declined to comment.
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