The Printemps group announced the closure of seven stores, 450 jobs threatened

The Printemps group announced, Tuesday, November 10, during an extraordinary social and economic committee (CSE), the closure of seven stores, which would represent 450 job cuts, according to the CGT and CFDT.

“We had a CSE this morning, 450 jobs are affected by an employment rescue plan, including 330 in Printemps stores and 120 at Citadium”, Jean-Jacques Liebert, CGT central union delegate, told AFP. This figure has been confirmed by the CFDT.

The company is first and foremost a victim of the poor health of the fashion sector, which “lost 17% of its value over the last ten years”, explained at the end of October Yohann Petiot, general manager of the Alliance du commerce, which brings together the Union of large downtown commerce, the Federation of clothing brands and that of shoe brands.

In addition, the group is said to have been struck by “the succession of economic crises (attacks, demonstrations of yellow vests, strikes)”, not even to mention the Covid-19 epidemic which has drastically reduced tourist flows, as well as, as a general rule, store visits.

According to AFP, the Printemps stores concerned are located in Paris (Place d’Italie), Le Havre, Strasbourg and Metz, and the three Citadium brands are those of Paris (Champs-Elysées and Nation) and Toulon.

The group told AFP that the“information-consultation” of employees was “not launched” and that it was to last four months. “Store closures could last until January 2022”, and “428 positions could be affected” out of a total of 3,000.

“To stop losses, adapt to market requirements and ensure its sustainability over the long term”, the Printemps group says “in the obligation to transform its model”, and plans to invest 40 million euros per year “over the next two to three years” for in particular “strengthen the differentiation of its offer,” redevelop its customer base “ and speed up online sales.

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