L'Occitane Have Filed for Bankruptcy In The US

[donna255]

Yes, and closing all 23 stores they have there.

Makes me wonder if they will be cutting back in the UK? Or will they be pushing more TSVs to get rid of products?

 

[Deleted member 21102]

Interesting. Watch this space....

 

[PennyPitStop]

Haven't they just bought Elemis?

 

[Marina]

They've put some nice stuff in the winter sale, I thought this was suspicious.

 

[Dame Fondacox]

On the odd occasion that I call into my local store, I'm usually the only one in there. It's the same with Molton Brown. I can see them both being sold only in department stores soon.

 

[Sazza]

It is only L'Occitane US, nothing to do with L'Occitane En Provence elsewhere in world.

L’Occitane Files for Bankruptcy in U.S.

Commences voluntary Chapter 11 to further accelerate U.S. lease portfolio restructuring initiative.

www.beautypackaging.com

 

[boffy]

Most things will be online only in the future lots of big high street shops are closing!

 

[SisterBliss]

Yes, and closing all 23 stores they have there.

Makes me wonder if they will be cutting back in the UK? Or will they be pushing more TSVs to get rid of products?

whaaaaaaat?

 

[boffy]

The global reset?

 

[Brissles]

Poor old Alex might have to come down from her posh tower if she's given the push.

 

[Boris Bear]

Selling on QVC and online will incur much lower overheads than having their own shops.

 

[maymorganlondon]

Any retailer with a large investment in retail sites will be looking to reduce once this is over... this could be a thing over here too.
L'Occitane have stores in nice places, so likely pay high rates and high rent. If the sales don't cover the costs and then some, I would imagine there will be store closures, sadly.

 

[staticboombox]

It's chapter 11 bankruptcy so basically a way for companies to save money they owe $15 million in rent , they have 166 stores/boutiques/stands across the USA looks like 23 stores are closing and they are hoping to twist the arms of landlords for lower rent

 

[JFB]

Haven't they just bought Elemis?

Yes they have

 

[Lilo Lil]

Ooops - all going down the pan ...

 

[Brissles]

Writing on the wall for Keeley ?????

 

[May]

There’s been a lot of companies hanging on a cliff anyway and the pandemic is pushing some off, it would seem

 

[maymorganlondon]

There’s been a lot of companies hanging on a cliff anyway and the pandemic is pushing some off, it would seem

Lots of people at lower levels losing sleep over it the risk to their jobs, I'm sure. Must be awful for them

 

[boffy]

Most retailers will be going online only now cheaper and less overheads for the companies!

 

[donna255]

Writing on the wall for Keeley ?????

No, Elemis seem to be bucking the tread and doing well. As I wrote last month they have their own loyalty scheme going. Look at how many times they are on QVC, and they must be selling there or wouldn't get so much air time. People on Facebook complain about the air time they get. They must be second to Dyson hairdryers etc.