White & Case Advises THOM Group on Acquisition Out of Bankruptcy of Agatha Group
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Global law firm White & Case LLP has advised THOM Group, a leader in affordable jewellery throughout Europe, on the acquisition out of bankruptcy of the French jewellery brand Agatha Group, made together with Renaissance Luxury Group through its subsidiary Altesse.
Due to financial difficulties, Agatha Group was compelled to declare its state of cessation of payments on October 30, 2020, at the Bobigny Commercial Court. By judgments dated November 5 and December 15, 2020, the Bobigny Commercial Court opened bankruptcy proceedings in favor of the Group's four main French subsidiaries.
The offer by THOM Group and Renaissance Luxury Group, through its subsidiary Altesse, for Agatha Group was accepted on February 26, 2021 by the Bobigny Commercial Court. The aim of the acquisition out of bankruptcy of Agatha Group is to develop the brand on an international level, particularly in Asia and Europe, and to strengthen its leadership position in France by consolidating its distribution channels.
The White & Case team in Paris which advised on the transaction was led by partner Saam Golshani and included partners Alexandre Jaurett, Clara Hainsdorf and Brice Engel, counsel Jean Paszkudzki and Orion Berg, with support from associates Alexandre Balat, Alice Léonard, Dany Luu, Mûre Maestrati and Anne Sauvebois-Brunel.
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