Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Ebola virus: US to send 3,000 troops to West Africa

Read more

AFRICA NEWS

Nigeria attack: Bomb blast in college in Kano

Read more

AFRICA NEWS

Ebola: Lockdown brings Sierra Leone capital to a halt

Read more

MEDIAWATCH

Sarkozy's political comeback: did he ever leave?

Read more

DEBATE

The World This Week

Read more

FRANCE IN FOCUS

Travel chaos: Air France pilots take industrial action

Read more

THE BUSINESS INTERVIEW

Christian Kastrop, Director of Policy Studies, OECD

Read more

AFRICA NEWS

Ebola: UN Security Council unanimously passes resolution

Read more

ENCORE!

Author Kiran Desai on early success and the Booker Prize

Read more

France

French luxury chain Hediard files for bankruptcy

© afp

Text by FRANCE 24

Latest update : 2013-10-22

France's luxury Hediard chain, which specialises in fine foods and confectionery, has filed for bankruptcy, a source close to the case told AFP on Monday. Founded in Paris in 1854, Hediard now has shops in 30 countries around the world.

France's Hediard chain of luxury food stores has filed for bankruptcy, a source close to the case told AFP on Monday.

Hediard, which has shops in 30 countries from Madagascar to Vietnam, declared itself insolvent at a commercial court in Paris, said the source. A hearing is due to take place on Thursday to determine whether an administrator should be appointed.

The fine foods and confectionery stores opened in 1854 in Paris as a small shop specialising in exotic foods and soon began expanding.

Hediard made its first foray onto the international scene when it opened in Japan in 1973. It now has a restaurant in Moscow and six cafes scattered among a number of countries, including Singapore.

In 2007 the Luxadvor group, controlled by Russian tycoon Sergei Pugachev, bought the chain in a deal that was supposed to help it expand further abroad, but Hediard has reportedly been losing money for the past six years.

(FRANCE 24 with wires)

 

Date created : 2013-10-22

  • FRANCE

    Cannes Film Festival hit by $1 million jewellery theft

    Read more

  • FRANCE-QATAR

    Qatar eyes Paris's iconic Printemps department store

    Read more

  • BUSINESS

    French luxury group LVMH buys Bulgari for €4.3 billion

    Read more

COMMENT(S)