Bredin Prat advises the Despature family group in connection with an agreement entered into between Damartex and the Despature family group as its reference shareholder and Damartex’s legacy banking partners

Bredin Prat is advising the Despature family group, the reference shareholder of Damartex, in connection with the agreement entered into on 19 July 2023 between Damartex and the Despature family group and Damartex’s legacy banking partners on the restructuring of Damartex’s current financial debt and the securing of new financing.

The Damartex Group is one of Europe’s leading retailers of clothing and accessories for seniors. It has nine brands and operates in nine European countries. In the financial year 2022/2023, the Demartex Group generated consolidated sales of €650.4 million, down -9.5% against the previous year (based on actual exchange rates). Demartex has stepped up measures to reduce costs and optimise its cash position, and initiated conciliation proceedings to secure existing financing and negotiate the terms of new financing, which resulted in a conciliation protocol.

The Bredin Prat team advising the Despature family group comprised:

• Restructuring: Nicolas Laurent (partner), Benoît Delort and Ivaylo Popstoyanov
• Financing: Karine Sultan (partner) and Elsa Tessier