Jacadi , the French childrenswear brand , is reportedly planning to leave the UK market by the end of next month after a dispute with its franchisee . The closure will impact 57 people employed in its |
five stores in the country . The company ’ s UK stores are located in London and its suburbs , including the King ’ s Road in Chelsea , Battersea , Hampstead , Westfield London , and Richmond . |
However , the reported move has invited litigation against the company from its UK partner French Children ’ s Wear ( FCW ) in the Lille Commercial Court . The FCW , which has been its partner since 2012 , has made an investment of £ 10 million in its UK stores so far . Now it has sued Jacadi , one of the brands owned by the ID Group , for ¤ 30 million (£ 26.5 million ) for reported ‘ breach of contract ’. The contract between them got an extension of 10 years in 2015 with an aim to expand its presence outside London . A total of 273 stores , including 5 in UK , are being operated by the retailer across 38 countries . The news related to closure of UK stores also surfaced last month . The companies involved in the matter are yet to confirm the latest development . |
The closure will impact 57 people employed in its five stores in the country . The company ’ s UK stores are located in London and its suburbs , including the King ’ s Road in Chelsea , Battersea , Hampstead , Westfield London , and Richmond . |
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French sports goods chain Decathlon ’ s Chairman , Matthieu Leclercq , son of its Founder , has reportedly stepped down from his post . According to reports , Matthieu cleared his intention of not seeking a reappointment in a letter sent to the top management of the company . He was reportedly upset with deteriorating relationship with its stakeholders ’ representatives after negative performance earlier this year . Despite posting an 11 per cent increase in sales to ¤ 11 billion in 2017 , the company faced difficulties earlier this year .
Though Decathlon had a notable performance at the global level , the French sports retailer found itself in difficulties in its home market alongside sluggish online
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retail sales . It reported just 1 per cent growth in like-for-like turnover from France in 2017 . Online sales contributed just 4.5 per cent of the company ’ s total sales during the period under |
review . The world ’ s largest sporting goods retailer which currently operates 1,352 stores in 39 countries recently announced its plans to launch nine stores in Dublin , Cork and Galway , over the |
next few years . The opening of these stores will create more than 500 jobs in these areas . It opened a total of 185 stores in 2017 and 176 of them were in and outside France . |