Courir will boost its network of 160 stores with the acquisition of 18 of the 136 French Bata stores that have been auctioned by a French court following the insolvency of Bata France. The court accepted the offer made by François Le Ménahèze, who acted as chief executive of Bata France between 2008 and 2011, who proposed to take over 96 stores, sharing some of them with Courir and with a French chain of fashion stores. One of the candidates was JD Sports Fashion, which had offered to acquire more or less the same number of stores with a local entrepreneur. They have reportedly criticized the court's decision, as Le Ménahèze has apparently secured a soft loan from Bata itself to finance the purchase – a loan that can be converted into shares, allowing the seller to recover ownership of the stores if it is not paid back by a certain date (more in Shoe Intelligence).

Topics