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French lingerie maker Lejaby gets second takeover bid
Dec '11
French lingerie maker Lejaby, which was put into administration in October this year, has got a second takeover bid. The bid has been placed by a UK-registered company, Pacific Junction Corporation, on behalf of an unidentified French firm that is currently being established.

Under the bid, the French company proposes to retain 220 of Lejaby's 450 employees. Since the bid has been submitted after the November 30 deadline, a bankruptcy judge will decide on whether to receive the new offer.

The first bid was from Abcia, a France-based pension fund, which promised a restructuring plan to save 135 of the 450 staff employed by the lingerie house.

The bids are scheduled to be examined by the commercial court of Lyon on December 22 this year.

Lejaby shut three of its four French manufacturing units at the end of 2010. It registered a loss of euro 2.7 million (US$ 3.6 million) during financial year 2010-11. The company also cut nearly 200 jobs due to restructuring and shifting of production to North Africa.

Although the company is looking for a buyer and working on restructuring plans, it is continuing to trade normally at present.

Fibre2fashion News Desk - India

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