Zadig & Voltaire stores at risk as it seeks restructuring review

Zadig & Voltaire RSM Restructuring Advisory Covid-19 Thierry Gillier Peninsula TA Associates Rémy Baume

Zadig & Voltaire is reportedly in talks with restructuring advisers about the future of its UK store portfolio.

The French retailer has seven UK stores and an additional six concession stands in Selfridges, Harrods and Harvey Nichols, all of which were forced to close during the Covid-19 lockdown.

It is now seeking to draft in experts from RSM Restructuring Advisory to review its business, Property Week reported.

In January, private equity firm Peninsula made a strategic investment in Zadig & Voltaire.

Zadig & Voltaire remained majority-owned by its founder Thierry Gillier, while TA Associates exited its investment.

Financial terms of the transaction were not disclosed.

The retailer also said a new chief executive, Rémy Baume, would replace Jean-Jacques Guével, who left the business to become chief executive of Balmain.

Baume will also be a shareholder in the retailer.

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