The Rallye group has joined “ in exclusive negotiation »With Financière Immobilière Bordelaise, to discuss the sale of Go Sport. Heavily in debt, Rallye is expected to sell it for a symbolic euro.
A sale for 1 euro symbolic
Already owner of the Camaïeu women’s clothing brand, Financière Immobilière Bordelaise (FIB), Michel Ohayon’s investment fund, should buy Go Sport from the very heavily indebted Rallye group. Rallye announced on Wednesday March 10, 2021, to be ” in exclusive negotiation with Financière Immobilière Bordelaise “.
Negotiations aimed at ” the sale of the entire capital of Groupe Go Sport for a price of 1 euro without any guarantee of liabilities payable by Rallye “. Thus, according to Rallye, parent company of Casino, the sale could be finalized at the end of the first half of 2021, that is to say by June 2021.
A sale announced in March 2020
The sale has yet to be approved by the ” competent competition authorities “. In addition, banks must give their consent to allow ” maintaining and modifying their current outstandings “. Finally, the transfer must be subject to a ” release by the Paris Commercial Court of the inalienability relating to Groupe Go Sport securities “.
In March 2020, Rallye had confirmed its willingness to sell Go Sport, after the publication of results for the less bad. To face its results, the brand had started by closing the least profitable points of sale of its 210 stores. Destined at its creation to become the number 1 competitor of the leader Decathlon, Go Sport failed being overtaken by Intersport.
In August 2020, Financière Immobilière Bordelaise took over 511 stores of the Camaïeu group affected by the health crisis and had already acquired 22 Galeries Lafayette franchises in 2018.