FRANCE - Asiatex to take Petitboy out of receivership

Pau’s regulatory court has selected Asiatex to acquire Petitboy from CIC Banque de Vizille and bring the company out of receivership. The children’s clothing company has been held under observation for the past four months. Asiatex has agreed to acquire the company for a sum of EUR 1.1m. The purchase will include the group’s brand names Contre vents et marées, GPB and Petit Boy, but not its stock of clothing, which is said to be worth EUR 1.5m.