French manufacturer will fight on
French footwear manufacturer Arche has gone into administration but will continue working while the process takes it course. The company’s management team took the decision to do this on February 1, saying the complicated situation in the domestic and international markets had put it into financial difficulty.
Arche employs more than 100 people at its facility in Château-Renault, near Tours.
Company president, Catherine Hélaine, said difficulties had been piling up since 2018 and had hurt Arche’s margins considerably.
She also pointed out that the footwear manufacturer had had to source material at the end of 2023 for its winter 2024 collection, but will have to wait until the final quarter of 2024 to receive payment for the shoes.
Ms Hélaine said the company had funding arrangements in place for the year, but that the wait to be paid in full while energy costs and other expenses are rising made the situation tense.
She said the decision to go into administration would give the company some protection from creditors while it carries on working. She said its commitment to its customers and to its employees remains strong.
Image: Arche.
