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U.S. Arm of L’Occitane Exits Chapter 11 with “Right-Sized” Store Footprint
L’Occitane, Inc. exited Chapter 11 protection August 31 following the approval of its reorganization plan by the U.S Bankruptcy Court for the district of New Jersey. The U.S. arm of beauty products retailer L’Occitane International S.A. had filed in late January, citing disruption to its brick-and-mortar sales due to the pandemic.
The reorganization plan calls for a footprint of 133 L’OCCITANE en Provence locations following the store optimization program. Jointly proposed by the company and the official committee of its unsecured creditors, the plan provides for full recovery on the allowed claims of all creditors.
“With our boutique footprint now right-sized, we are in a strong position to continue delivering the extraordinary L’OCCITANE beauty experience and one-of-a-kind products that our customers know and love,” said Yann Tanini, managing director of L’Occitane North America.
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