Paris (France) (AFP) – In receivership for a week, the Parisian brand BHV Marais was forced to suddenly close its doors on Monday at 4:00 p.m., with management invoking a temporary “administrative regularization” linked to an insurance issue, when the unions feared a definitive closing down.

Published on: 09/11/2026 - 20:38 Modified on: 09/11/2026 - 21:41

The iconic Parisian department store, like BHV Parly 2, its little brother in Yvelines (Île-de-France), "must close this evening as a precaution for our teams and our customers", announced the president of the brand, Karl-Stéphane Cottendin, in an internal message transferred to AFP.

“One of our insurance policies could not be transferred as part of the current legal recovery,” he explained.

Before 6:00 p.m., the Town Hall Bazaar was empty and its lights turned off, with no sign informing customers who found the door closed, noted an AFP journalist.

“We are finalizing the new (insurance) contract, which is currently being signed and will take over tomorrow,” assures his 660 employees Mr. Cottendin, according to whom this “administrative regularization” does not “call into question the continuation” of their activity.

Requested by AFP, management claims a decision taken "with the judicial administrators" appointed as part of the recovery procedure and running "until tomorrow during the day".

"Brutal"

Not enough to “reassure” the inter-union, which “never believes” Mr. Cottendin. "Our fear is that it will not reopen (...) we are not really on track" in terms of "building compliance", she lamented to AFP, referring to "unpaid insurance", while waiting to "find out more".

Alerted by employees, the PS mayor of Paris Emmanuel Grégoire, that of Paris Center Ariel Weil and the deputy in charge of employment, Nicolas Bonnet Oulaldj (PCF), also noted the early closure of this 170-year-old institution.

"Maintaining the opening puts employees and visitors at risk. If they have not paid the insurance, I think they have not paid for the smoke extraction, the fire maintenance...", worried Emmanuel Grégoire, recalling that Ariel Weil had already reported "failures" in terms of building safety to the public prosecutor's office.

“Everything leads us to believe that the store will remain closed for a long time,” Mr. Grégoire told journalists on the sidelines of a public meeting with residents of Paris Center.

“The curtain being lowered like that overnight is extremely brutal, it shows that we have a management that has been lying for a long time,” denounced Mr. Bonnet Oulaldj.

Deserted by brands due to numerous unpaid bills and/or a controversial partnership with the Asian fashion giant Shein, the BHV was sold at a loss in June to some of its managers by the entrepreneur Frédéric Merlin, who bought it from Galeries Lafayette in 2023.

This summer, management announced a relaunch plan without Shein, recognizing that last year's installation of this ultra-ephemeral fashion symbol on the 6th floor of BHV was a "strategic error". But she ran into a lack of cash.

Mr. Cottendin, Mr. Merlin's former right-hand man, accuses the Canadian fund Brookfield, owner of the premises since January, of not having paid the compensation due in exchange for half of the store's surface area, when the lessor criticizes him for the lack of "bringing into compliance" of these spaces.

Shein "until spring"

In the meantime, BHV cannot reimburse the rent already paid by Shein to accelerate its departure.

“As provided for in the contract, Shein will be present until spring,” the Asian giant recently told AFP.

At the end of October, BHV management admitted that the brand was bankrupt, something it had until recently denied.

The company's placement in receivership, requested by management and the unions, was decided on Monday, November 2 by the Paris Economic Activities Court.

It allows for an observation period of six months, renewable for six months. The court can then authorize management to continue its activity (recovery plan), choose a buyer (sale plan) or liquidate the company (judicial liquidation).

On Wednesday, two entrepreneurs unveiled a partial takeover project for the BHV supposed to save 250 jobs, with the support of the inter-union association.

For his part, Mr. Bonnet Oulaldj indicates that he "contacted Brookfield to see them this week. We were hoping for a recovery or takeover project."

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© 2026 AFP

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