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Ski Republic in "Plan de continuation"

 Poster: A snowHead
Poster: A snowHead
Hi XPeak

Here is the court notice:



You can get the same information from the Greffe at Chambery Commercial Court.

A lawyer writes

Quote:

Davidof: Could you check this document and tell me what it means in relation to UK commercial law?
Lawyer: On the the 28th of July 2009 Favre Sports assets could not meet their liabilities. On the 23rd of November a receiver was appointed by the court. There is a confidential court hearing in January. These will probably continue to asses the progress being made to meet the liabilities and to continue trading.
Davidof: Is it the same as receivership in the UK?
Lawyer: It is very similar but obviously they are separate legal systems. But the principals are the same. Receivership under UK law is a form of insolvency in which a company can avoid liquidation by reorganizing with the help of a court-appointed trustee.
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 Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
davidof, Perhaps now would be a good moment to correct some mis-informed comment on another ski season based website?
snow conditions     
 Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
Thanks for sharing the court document davidof.

This looks like a definite confirmation that the company is in formal financial difficulty (unless the document was a forgery of course!). I am not a French judicial expert but "Redressement judiciaire" is a well defined procedure in France whereby a company is unable to meet its liabilities since July 2009 "Cessation des paiements". This is kind of French Chapter 11 version where a company is given time to save the business, jobs and to pay all its creditors. 3 scenarios then, company gets out of it by its own means, is bought/taken over or is put down the "liquidation judiciaire" path ie. Kaput. Although it is normally for 6 months they have been given until 23/11/2010 "fin de la periode d'observation fixee au 23/11/2010". Progress will be looked at on 18/01 at a new "audience" with the Tribunal in Chambery. Of course the banks can pull the plug on the business at any time by refusing to lend further money or to give any overdraft facility.
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 You need to Login to know who's really who.
You need to Login to know who's really who.
12 months observation is a long time which makes me think that M. Favres statement is correct. We have all heard stories of banks bankrupting viable companies because they have some temporary cash flow difficulty.

Regarding Natives. Honestly I can't make head nor tail of their thread. They sounds like the kind of bores you used to meet down the pub before forums were invented.

Personally I think Ski Republic is/was a good idea. Favre Group obviously overreached themselves given the difficult trading circumstances last year.

Oh yes, the document could be a fake and I would imagine M. Favre would be issuing proceedings in that case. Note that the SIREN number given on the document is the same as the SIREN (IRS) number referenced on the Ski Republic website. I also understand that in conversations with Admin M. Favre confirmed that the Snowheads story was correct as it stood).
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 Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
Ski Republic is not the only organisation, or scientist/medic, continuing to hype helmets:

http://www.burlingtonfreepress.com/article/20091204/NEWS02/91204002

Quote:
Helmet use is getting some high-profile endorsements. The National Ski Patrol has joined an initiative by a Fletcher Allen Health Care doctor called Protect Head at All Times, or PHAT. The program — which encourages helmet use through example, not mandatory use — has been running a pilot program at Smugglers’ Notch Resort in Cambridge. The National Ski Patrol’s involvement is expected to help the program catch on at resorts throughout the country.

“We are really pleased with this. This is potentially a game-changer,” said Robert Williams, a pediatric anesthesiologist at Vermont Children’s Hospital at Fletcher Allen, who is spearheading the program.

Quote:
“I endorse the idea [of helmets for kids] but I think we should get everybody into helmets and forget the ages,” Williams said. “I don’t really want to this to be youth-orientated campaign. I want this aimed at everyone. I don’t want kids to feel that you have to be in a helmet, and when you are older you can take the helmets off.”


He speaks for himself
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 You'll need to Register first of course.
You'll need to Register first of course.
The Sun reports this morning that Ski Republic is opening 8 new stores:

http://www.thesun.co.uk/sol/homepage/travel/2759795/Ski-Republic-to-open-8-stores-in-French-Alps.html
ski holidays     
 Then you can post your own questions or snow reports...
Then you can post your own questions or snow reports...
If anyone is still watching this topic I can now report that Ski Republic is alive and well, in Tignes at least. We picked up our pre-paid skis and snowboard this morning at the appointed store and with no hassle. The two for one offer is still running and is also available for walk-up customers. I know nothing of French bankruptcy law but it doesn't seem to have prevented them trading this season at least.
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 After all it is free Go on u know u want to!
After all it is free Go on u know u want to!
Bogusman, they've opend up a new shop in Monetier.
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 You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
Might book with them at quite short notice this year.
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 Ski the Net with snowHeads
Ski the Net with snowHeads
This thread should have been deleted a long while ago. The fact that it exists at all will have a negative influence on a proportion of the people who would otherwise have booked with Ski Republic, causing them to turn elsewhere. That proportion may be small (likely), or it may be large. However the viability of Ski Republic rests upon business coming in through the door, so this thread is to an extent affecting that viability. It is therefore possible for it to become a self-fulfilling prophecy.
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 snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
mfj197, rubbish.
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 And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
Sorry hyweljenkins, it's business.
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 So if you're just off somewhere snowy come back and post a snow report of your own and we'll all love you very much
So if you're just off somewhere snowy come back and post a snow report of your own and we'll all love you very much
I disagree completely and I really don't see why some people are getting so uptight about this and wanting to give Ski Republic special treatment. Should Admin go through and censor all the other threads that discuss the financial problems of ski businesses?

Prior to this story there were a lot of rumours going around at ski shows and elsewhere that Ski Republic had gone bust. Some of these were published on the web: http://www.facebook.com/note.php?note_id=160115804012. This thread sets out the current legal position and gives Favre's statement on the situation.

There was a cash flow problem, Favre were unable to pay their creditors last summer, they have a court appointed administrator overseeing the business and the recovery plan. Thanks to the sale of assets they may be able to clear their debts in April and come out of administration.
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 You know it makes sense.
You know it makes sense.
Yes, don't shoot the messenger.

On the contrary, give the messenger a free liftpass.
snow conditions     
 Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
I should have added that I understand MFJ197's point and it is a debate that is worth having, maybe in its own thread?
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 Poster: A snowHead
Poster: A snowHead
I hired from Ski Republic in Australia last year, however having just done a summer trip to the snowy mountains i noticed that the Ski Republic shop now has For ease signs up all over it.. kind of indicates they wont be continuing their aussie store.?
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 Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
Hello,
Here are some news about Ski Republic’s situation.
Lionel Favre (Ski Republic CEO) is very confident about Ski Republic getting out of administration soon.
Our team is preparing Ski Republic’s 4th season.
We still have 32 shops (25 owned shops+7 franchises).
Many shopowners of winter resorts just love our concept and wish to join our team.
We plan on having between 10 and 15 new franchisees in the Alps and in others areas.
See you soon on the slopes.
snow report     
 Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
latest legal bulletins

http://www.societe.com/societe/favre-sports-logistique-443948765.html#rj

some explanation of the terms

http://www.articles.exafi.com/pc/PCFAQ/ProcColl-014.htm

since 1st July 2011 the company is in a status of Plan de continuation. So basically the commercial court thinks Ski Republic can eventually pay off its debts and return to a healthy status but the company is still under observation.
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 You need to Login to know who's really who.
You need to Login to know who's really who.
BTW: Maybe a mod can update the title of this thread?
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 Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
davidof, you should be able to change it yourself, just edit the first post
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 You'll need to Register first of course.
You'll need to Register first of course.
It is in snownews so I don't have the right.
ski holidays     
 Then you can post your own questions or snow reports...
Then you can post your own questions or snow reports...
davidof, I've changed it but I'm not sure if that's the title you want? Also, your original image appears to be unavailable now.
snow report     
 After all it is free Go on u know u want to!
After all it is free Go on u know u want to!
After being bought in 2011 by Safibri Ski repblic has gone into liquidation, again. The managing directory Carlos Rodriguez has said "The economic situation is not stopped getting worse, margines are very thin, the Internet has increased competition, it is a market in recession".

The 70 future of the 70 shops are in the hands of Danisport who has taken over the group. Danisport also owns Skimium and Ski Ski précision.
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 You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
@davidof, just for the record, Danisport (prop. David & Nicolas Mercier) don't own Skimium. Skimium is a simply a booking agent for a network operating on a similar basis to SkiSet/Sport 2000. Skimium the brand is under the ownership of the same parent as Decathlon and Wed'ze, namely Oxylane. Shops bearing the Skimium logo are independently owned.

Danisport does own some Skimium branded shops, and my information may be out of date, but at one point it was said that regardless of which brand of shop you entered in Les Arcs 1950, your euros would go into their account.
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 Ski the Net with snowHeads
Ski the Net with snowHeads
Ski Republic has finally been liquidated - most if it has been bought by Danisports (owners of Precision Ski). SR really shook up the complacent ski hire business.
Read more about it in my blog: http://grangedalice.blogspot.fr/
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 snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
erm, well we already read about it on this thread. Thanks anyway.
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