Fast Retailing, the Japanese parent of Uniqlo, is preparing to file for receivership of its French brands Comptoir des Cotonniers and Princesse Tam Tam in the Paris Trade Court, according to a report by Fashion Network citing multiple reliable sources.

The move follows Fast Retailing’s decision to withdraw financial support from the two brands, which have undergone multiple restructurings since 2018. In September last year, they merged into a new entity, Fast Retailing France.

Both labels have taken significant steps to reduce costs. In 2021, Princesse Tam Tam closed 27 of its 69 stores and downsized its workforce from 235 to 151. Comptoir des Cotonniers shuttered 28 of 67 locations and cut 101 positions. Together, they now operate approximately 90 stores.

Efforts to revive brand appeal, including 30 per cent price reductions and collaborations with Uniqlo via shop‑in‑shops and joint collections, proved insufficient to reverse declining sales.

Comptoir des Cotonniers, acquired by Fast Retailing more than 20 years ago, had thrived in the 2000s with its casual‑chic womenswear and “mother‑and‑daughter” campaigns. Princesse Tam Tam, founded in 1985, is known for its bold lingerie and swimwear.

Uniqlo France remains unaffected, operating under a separate legal entity and continuing to deliver strong performance, Fashion Network reported.

For the first half of fiscal 2024–25, Fast Retailing reported net income of $1.47 billion (up 19.2 per cent year on year) and revenues of $11.26 billion (rising 12 per cent).