08.25.21
L'Occitane, Inc. has successfully completed the restructuring of its US lease portfolio and received approval of its Plan of Reorganization from the United States Bankruptcy Court for the District of New Jersey. The approval positions the company to emerge at month's end from the Chapter 11 process.
The restructured lease portfolio will create a sustainable store platform for the long term, said the company. The new footprint includes 133 L'Occitane en Provence boutiques.
The shift will provide the company with a “robust, go-forward brick-and-mortar presence to best serve customers across multiple channels.”
L’Occitane, Inc. filed the voluntary Chapter 11 petition on January 26, 2021.
"Today's achievement is an exciting and important step for the continued success of the iconic L'Occitane en Provence brand in the US," said Yann Tanini, managing director of L'Occitane North America. "With our boutique footprint now right-sized, we are in a strong position to continue delivering the extraordinary L'Occitane beauty experience and one-of-a-kind products that our customers know and love. We thank our employees, customers, suppliers, and landlords for their support, collaboration, and trust, enabling us to move through this process efficiently and reach this positive outcome."
The restructured lease portfolio will create a sustainable store platform for the long term, said the company. The new footprint includes 133 L'Occitane en Provence boutiques.
The shift will provide the company with a “robust, go-forward brick-and-mortar presence to best serve customers across multiple channels.”
L’Occitane, Inc. filed the voluntary Chapter 11 petition on January 26, 2021.
"Today's achievement is an exciting and important step for the continued success of the iconic L'Occitane en Provence brand in the US," said Yann Tanini, managing director of L'Occitane North America. "With our boutique footprint now right-sized, we are in a strong position to continue delivering the extraordinary L'Occitane beauty experience and one-of-a-kind products that our customers know and love. We thank our employees, customers, suppliers, and landlords for their support, collaboration, and trust, enabling us to move through this process efficiently and reach this positive outcome."