Kaporal, the French fashion brand that recently entered receivership, is now the focus of five potential takeover bids as the company seeks buyers or investors to overcome its financial challenges. The deadline for potential buyers to make themselves known to the relevant authorities was May 22. Owned by TowerBrook Capital Partners since 2013, Kaporal has received several serious offers, although the identities of the potential buyers have not been officially disclosed.

One of the bidders is reportedly a member of Kaporal’s own management team, although the specific candidate has not been revealed. Among the five offers on the table, two managers of Kaporal, Nicolas Ciccione and Thierry Bongiovanni, are said to have submitted bids with the aim of maintaining the brand’s current network. Another offer comes from Le Temps des Cerises, a fashion brand based in Marseille, which is interested in acquiring eighteen of Kaporal’s shops. Additionally, Franco-Tunisian company Guerrida Habib, operating under the name Guerrisol, has also made a bid.

There are also rumors that Laurent Emsellem, the founder of Kaporal who left the company in 2014, has made a takeover offer. Furthermore, the destocking company Noz has expressed partial interest in purchasing Kaporal’s existing stocks.

The Marseille Commercial Court is scheduled to examine these bids on June 22, and potential applicants have the opportunity to improve their proposals up to two days before the hearing. The final decision on the takeover will be made in July. Currently, Kaporal has a workforce of 534 employees and operates 113 shops in France, along with a few locations in Belgium. In 2022, the brand’s turnover amounted to 99 million euros, with 20% of sales occurring online, a decrease compared to the pre-crisis turnover of 120 million euros.

In a press release issued in March, Kaporal’s management, led by Laurence Paganini, acknowledged the company’s “exceptional financial situation” resulting from unprecedented economic difficulties. The release also highlighted that without assistance, the company could no longer meet its financial obligations. A search for a new investor had been initiated prior to the receivership but had proved unsuccessful.

The outcome of these takeover bids will determine Kaporal’s future stability. The chosen buyer or investor will play a critical role in shaping the path ahead for the French fashion brand.