It is a French company more than a century old. The sports equipment manufacturer Coq sportif announced on Wednesday that it was “looking for financing solutions”, due to “significant financial tensions”, a few months after obtaining a loan from the State.
“Le Coq Sportif is currently facing significant financial tensions, particularly in terms of cash flow, with the months of October and November being particularly exposed, as every year, during changes in the product season,” writes Airesis, its parent company, in a press release. “The company has mandated an investment bank to assist it in finding suitable financing solutions,” continues Airesis.
According to its financial results for the first half published at the end of September, the group posted a loss of 18.2 million euros compared to a loss of 10.5 million in the first half of 2023, and 28.2 million over the entire period. last year.
Optimistic outlook
Le Coq Sportif, which equipped the French delegation during the Olympic Games, also obtained a loan of 2.9 million euros in May 2024 from the Paris 2024 Organizing Committee, of which 150 remained as of September 30. 000 euros to be repaid, as well as a loan of 12.5 million euros in July from the French State, through BPI France Assurance Export.
“Despite the current cash flow difficulties, the sales outlook remains positive, driven by the enthusiasm expected after the Paris 2024 Olympic Games, both in France and internationally,” Airesis also estimated on Wednesday.
The company is also in the middle of a dispute with the French Rugby Federation (FFR), which is claiming 5.3 million euros in unpaid amounts from its former supplier.
