Naf Naf, the popular French womenswear retailer, has unveiled its new job protection plan as part of its efforts to recover from filing for receivership in September. The plan includes the closure of 17 stores in France, putting 87 retail jobs and 30 head office positions at risk. These store closures were decided upon following discussions with employee union representatives.

The affected stores are situated in various cities across France, such as Mulhouse, Bordeaux, Saint-Omer, Brest, Marseille, Niort, Levallois, Nancy, Paris, Nice, Aix-en-Provence, Lille, Toulouse, Tours, and Boulogne. With the exception of the Nice and Boulogne stores, all the other stores will be closed by November 10, 2023. The Nice store is scheduled to shut down at the end of January 2024, while the Boulogne store will close at the end of March 2024.

Apart from closing stores, Naf Naf will relocate its head office from Asnières to Bondy in mid-November. Head office employees who are unwilling to move to the new location will be covered by the job protection plan. Angélique Idali, the union representatives’ secretary and a delegate for CFDT, the union with the majority presence at Naf Naf, expressed concern that the number of head office jobs at risk might increase. She emphasized the impact of the closures on long-serving employees, stating that “some of the employees have more than 25 years on the job, it’s a shock.”

The financial struggles faced by Naf Naf can be attributed to unpaid rents during the pandemic. As a result, the company was placed in receivership by the trade court of Bobigny in September. The company will undergo close monitoring for a period of six months, with a new hearing scheduled for November 7 to evaluate its situation and finances.

Founded in 1973 by two brothers, Naf Naf is a well-known mid-market womenswear brand in France. It is currently owned by the Franco-Turkish group SY International. Prior to implementing the job protection plan, Naf Naf employed 660 individuals in France and operated 135 stores. In 2022, the company reported a revenue of €141 million. Despite the recent challenges, Naf Naf’s spokesperson stated in August that the company was still experiencing growth.

This is not the first time Naf Naf has encountered financial difficulties. In May 2020, the company was placed in receivership prior to being acquired by SY International. Additionally, the group also acquired the French womenswear brand Sinéquanone in 2019. In June 2023, Naf Naf initiated a restructuring process that involved eliminating 37 jobs as part of its recovery plan. The upcoming hearing on November 7 will play a crucial role in determining the future of Naf Naf and its efforts to overcome its financial struggles.

Useful links:
1. Official website of Naf Naf
2. SY International Group website