L Catterton will pay €4 billion EUR for the previously family-owned business.
Alongside Louis Vuitton top executive, Anthony Ledru.
12 million people owe roughly $6,000 USD in back rent.
Taking $425 million USD off the original price.
The company is now forced to amend its debt agreements.
“Down 15% compared to the same period in 2019.”
Financing the first 10 million itself.
Enlisting its cosmetics and perfume factories.
Fashion and leather goods account for over 40 percent of that.
The transformed department store aims to reopen in 2020.