Two bids to save Le Coq Sportif
The authorities in France have confirmed that they have received two bids to take sports clothing and footwear brand Le Coq Sportif out of administration.
One bid has the backing of French telecommunications billionaire Xavier Niel. He is part of a consortium that also includes global management company Iconix, which already owns Umbro.
Neopar, a French investment firm that specialises in business turnarounds, is leading the consortium and, if successful, would have a 51% stake in Le Coq Sportif.
Paris-based business daily Les Échos has said the second bid involves Franco-Swiss entrepreneur Dan Mamane, whose previous investments include taking a stake in high-end skiwear brand Ogier.
French media have said they expect a decision on Le Coq Sportif’s future by the end of June.
