We have advised Dan Mamane on his acquisition of Le Coq Sportif, the iconic French sportswear brand, as part of a restructuring process that began in November 2024.
Founded in 1882, Le Coq Sportif (LCS) designs and manufactures premium sportswear, footwear, and accessories inspired by French heritage and craftsmanship. The group produces a wide range of athletic and lifestyle collections and supplies numerous French and international sports teams, maintaining partnerships with major cycling, rugby, and football federations. Its integrated capabilities include in-house design, development, and production primarily carried out at its site in Romilly-sur-Seine.
In November 2024, LCS was placed under insolvency proceedings by the Paris Commercial Court, following significant financial difficulties. The company, burdened with substantial debt, entered a six-month observation period aimed at preserving its 308 employees and identifying viable recovery solutions.
The transaction was carried out in two phases:
Firstly, interim financing (“DIP financing”) was established during the observation period, secured by a trust arrangement over LCS France and its international brands. Approved by the French Court, this financing enabled the company to meet its payment obligations and maintain operations.
Secondly, following a competitive process, the French Court validated the debt restructuring plan proposed by Dan Mamane and his co-investors. This plan combines the injection of additional new funds to support the group’s development with a substantial debt restructuring necessary to restore the company’s balance sheet and drive its operational recovery.
The transaction will create a strong financial foundation, restoring trust among customers and suppliers while securing the company’s short-term obligations and long-term ambitions.
A new management team, led by Alexandre Fauvet, will be appointed with the objective of preserving existing partnerships and developing new strategic opportunities. By revitalising the brand in both France and internationally, LCS aims to reaffirm its position as a leading sports brand, recognised for its performance, innovation, and product quality.