On December 13, the Paris Commercial Court ruled that bankrupt book club France Loisirs will be taken over by French investment fund Financière Trésor de Patrimoine. As part of the deal, Le Monde reports that 90 percent of employees will be laid off, with the company retaining “forty-four employees on permanent contracts out of 484.” The book club currently has 122 stores and 22 dedicated sections in stores across France — all but 14 stores will close. (A decision has not yet been made about 13 locations in Belgium and Canada.) France Loisirs has been struggling financially for over six […]
