Le Coq Sportif Faces Bankruptcy, Will End All Major Kit Deals
- Bankruptcy Proceedings: Le Coq Sportif is undergoing judicial restructuring due to financial losses and unpaid loans.
- Kit Deal Termination: The company is being forced to end all of its major football shirt deals.
- Company Future Uncertain: The parent company is trying to find ways to sustain the business, but the future is still unclear.
French sportswear Le Coq Sportif is facing bankruptcy, according to a report from Fashion United from late 2024. Footy Headlines knows that Le Coq Sportif is forced to end all major football shirt deals.
Le Coq Sportif is Bankrupt
According to Fashion United, Le Coq Sportif has been placed under judicial restructuring proceedings by the Paris Commercial Court.
"Le Coq Sportif is relying on this procedure to respond to the challenges facing the brand while protecting its 330 employees and hundreds of indirect jobs." parent company Airesis said.
Le Coq Sportif's risk of bankruptcy stems from years of losses. It has received loans from the Paris 2024 Organising Committee and the French state, none of which have been repaid. The company is also embroiled in a legal dispute with the French Rugby Federation (FFR), which is seeking €5.3 million from its former supplier.
The parent company of Le Coq Sportif, Airesis, is still working hard to find viable options to sustain the business and ensure Le Coq Sportif continues to exist.
Le Coq Sportif has to end all its current major kit deals
According to information from Footy Headlines, Le Coq Sportif has to end all its current major kit deals, including Nice and ES Troyes AC. Nice has signed with Kappa, even though that's not official yet.
What do you think about the current situation of Le Coq Sportif? Do you think they can be 'saved' from bankruptcy? Comment below.
