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Coronavirus: Pacific Pêche facing ‘huge financial difficulties’

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Top French retail chain Pacific Pêche is facing ‘huge financial difficulties’ caused by the Coronavirus.

Pacific Pêche, France’s major fishing tackle retail chain, has warned of ‘huge financial difficulties’ caused by the Coronavirus crisis.

In a letter to its suppliers, the company’s Director of Purchasing and Supply, Laurent Vigier, said that the Coronavirus, which has closed its shops until at least April 15th, means that the company cannot meet its financial commitments on products delivered by suppliers or those on order.

He told Angling International that as the duration of the crisis cannot be predicted, there is a risk that the company will cease to trade if its tackle shops remain closed for longer than the middle of April.

He said: “Pacific Pêche, with a €40m turnover and 270 employees, is a leading retailer of fishing products in France. Despite this position in the market it will not overcome this crisis and will not be able to fulfil its financial commitments. We are not in a position to operate payments for goods delivered or those on their way to be delivered.

“As a consequence, we ask our suppliers to urgently contact their forwarders to retrieve the containers that are on the way to us. We are really sorry about this situation and for putting our partners and employees in a difficult situation.”

The company is currently trading via its website.

Pacific Pêche, which has more than 40 stores across France, is owned by ASD International and was founded in 1993 with its first store in Orléans.

Filed In: Product News