On October 14, the trade court in Bobigny, France, approved the recovery plan presented by the menswear retailer, which will continue in its turnaround efforts and plans to return to profitability in 2022.
Clarks had a tough time of it last year, as did many others in the footwear sector. Sales plummeted and its losses in the 12 months to January 2021 grew. But the firm is upbeat about the future under its new ownership.
British retailer Marks & Spencer said on Sunday it was reviewing the future of its French business, with new trade rules in place since Britain left the European Union continuing to impact product availability in stores.
Wein is replacing Katarzyna Niemirowicz, who has been named general manager of H&M Italy, and maintains his post as regional country manager South Europe, whose regional headquarters have now moved to Barcelona.