dive into the brutal system of the “No. 1 in Europe” destocker

dive into the brutal system of the “No. 1 in Europe” destocker

The announcements were abrupt. Saturday September 3, 24 Noz stores have permanently closed their doors at 7:30 p.m. On the company’s Facebook page, the company says it closed three more on Saturday, October 8, bringing the total to 37 stores since the start of the year.

According to many internal sources, this is only the beginning: between 50 and 60 stores are still in the hot seat, and could lower the curtain before the end of the year. Contacted by West FranceNoz has not confirmed or denied, but does not wish not speak.

The destocker’s model is simple: buy unsold lots, anywhere on the planet, to offer them at low prices. The chain claims No. 1 in Europe of destocking and ensures to aim for the first place in the world. In 2015, on its website, the brand claimed 256 stores, for a turnover of 442 million euros. In December 2021, the number of stores rose to 333. On the last update of the site, we find 303 stores (37 closures and 7 openings in 2022).

“Everything is very basic”

This knockout of the old brand The Soldeur might surprise. Founded in 1976 in Laval (Mayenne), the company has a great history. In ten years, she opened 10 stores. In 2003, the hundredth, in 2018 the 300th. Of its founder, Rémy Adrion, 72, little is known. Son of a worker, he rose alone, according to Challenges, among the top 300 French fortunes.

The complex set-up of the companies makes it impossible to know whether he is the sole shareholder of Noz, but the Rennes Court of Appeal, in a judgment of July 2022, noted that the investigations carried out with the Tax Control and Research Brigade revealed that Mr. Rémy Adrion was the holder of a large number of shares in the companies of the brand.

At a time when inflation gallops, the low prices of Noz could attract many customers. A paradox refuted by Frédéric Fessart, partner at EY-Parthenon. Noz, compared…