Petitboy in receivership

In October 2005, Petitboy, which was taken private from the Second Marché by CIC Banque de Vizille, went into receivership. The children’s clothing company is currently being held under observation for six months by Pau’s regulatory court. According to a company spokesperson, CIC Banque de Vizille has refused to inject any more equity into the company. The group orginially took a 75% equity stake in the newco in 2003. CIC-Société Bordelaise and BNP Paribas underwrote EUR 6m of debt facilities to finance the deal. The company was founded in 1943 and has around 400 employees.

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