The French government recently announced that it will postpone its summer sales by three weeks in order to give independent retailers time to shift spring inventory at full price and restore their cash flow.
The sales will now begin on July 15 and last four weeks. The discount period had originally been scheduled to run from June 24 to July 21.
The Fédération Nationale de l’habillement, which represents independent French retailers, welcomed the announcement.
The government was trying to find buyers for ready-to-wear chains that have filed for bankruptcy as a result of the coronavirus crisis, including Camaïeu, which employs close to 4,000 people, and La Halle, where 2,200 jobs are at risk. It now expects the French economy to contract by 11 percent in 2020, versus an earlier forecast of an 8 percent drop.