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French furniture chain filed for forced bankruptcy

The Habitat furniture brand was placed in compulsory liquidation by the Bobigny Commercial Court, without the continuation of its operations, according to the decision accessed by AFP. This marks the demise of a brand that has democratized design for decades. Habitat, currently employing 315 people in France with 25 stores, succumbs to financial challenges.

In a letter sent to AFP at the end of last year, Thierry Le Guénic, the buyer of Habitat in 2020, acknowledges his failure to meet the challenges, similar to the previous shareholders. Despite investing over 12 million euros in digital technology and opening new outlets, Le Guénic concedes that his projects and ambitions could not materialise in an extremely unfavourable economic context and despite clear internal resistance.

The court's decision signifies a significant setback for a brand that played a key role in popularizing design. Le Guénic's efforts to avoid any social plans and substantial investments were not sufficient to overcome the adverse economic conditions. The forced liquidation ends the operations of a brand that had been an influential player in the furniture industry, employing hundreds and maintaining a network of stores across the country.

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