Jott, Backed by L Catterton, Enters Insolvency Proceedings in France

Jott joins the list of those affected by the French ready-to-wear crisis. The Marseille-based fashion company Just over the top has been placed in redressement judiciaire (French procedure equivalent to insolvency proceedings) after being declared bankrupt. The Marseille court of economic activities has opened the procedure and set a six-month provisional observation period.

The court has convened an intermediate hearing for February 5th, at which it will assess whether the company has sufficient financial capacity to sustain its activity and will decide whether the observation phase will be maintained or whether the process will lead to judicial liquidation.

The decision has had an impact on the local ecosystem. According to AFP, Mode in Sud, the region’s fashion companies’ union, has described the situation as “full of meaning” for the sector and claimed Jott as a success story from Marseille, in the words of its president, Jocelyn Meire.

Founded in 2010 in Marseille, the brand became known for its light and colorful quilted coats and vests. As stated in the documentation provided to the court, Jott employs 183 people and records a turnover of €24 million in the French market alone. Staff salaries have been paid up to November.

Jott is a fashion brand from Marseille owned by L Catterton, an investment vehicle of LVMH

The company has reached this point after two complex financial years and several financial reinforcement operations. Since 2021, the L Catterton fund has been its majority shareholder. In 2024, the partners injected €18 million to address operational difficulties. In April of this year, an additional injection of €99 million was made in order to obtain the support of creditors.

With the opening of the redressement judiciaire, it has come to light that this last operation responded to a debt-to-equity conversion mechanism, whereby part of the debt is transformed into equity to relieve the balance sheet. Eight months later, the legal proceedings show that the plan has not yet enabled the situation to be remedied.

Since the summer, Jott has been managed by Thierry Miremont, an executive specialized in restructuring processes. The outcome of the observation period will determine the company’s immediate future and the viability of its continuity under judicial supervision. In Spain, the brand is present through its network of multi-brand points of sale and more than thirty physical stores.

In France, 2025 has completed to affirm an uncomfortable map. The crisis of the fashion trade is already a chain of bankruptcy proceedings that crosses very different segments, from young fashion to mid-range and accessories. Cases such as Jennyfer, which ended up in bankruptcy; Naf Naf, which fell back into judicial redressement; or Ikks, which has just been rescued, have been marking the pulse of a year of adjustments.