Financiere Immobiliere Bordelaise

Financiere Immobiliere Bordelaise (FIB) is a French holding company that specializes in commercial real estate and the distribution sector. It is owned by Michel Ohayon, a businessman from Bordeaux who started his career as a clothing franchisee. FIB owns several hotels, such as the Grand Hotel de Bordeaux, the Waldorf Astoria Trianon in Versailles and Jerusalem, and the Sheraton in Roissy-Charles-de-Gaulle. It also has investments in Florida residences and a Saint-Emilion grand cru. FIB has expanded its activities in the retail industry through its subsidiary Hermione People & Brands (HPB), which was created in 2018. HPB manages the franchise of 22 Galeries Lafayette stores, mostly located in small or medium-sized cities. It also acquired 511 Camaieu stores, a clothing brand that was struggling financially. In addition, it supported the continuation plan of La Grande Recre, a toy retailer that was in judicial recovery. HPB aims to revitalize these stores by investing in their digital transformation and local commercial dynamics. However, FIB has also faced some financial difficulties in recent years. In February 2021, its main lender, Bank of China, sued three of its subsidiaries for the non-repayment of more than 200 million euros of loans². These subsidiaries owned the walls of some of the hotels that FIB operates². In February 2023, FIB itself was placed in judicial recovery, after declaring itself in cessation of payments². The company had a debt of 477 million euros and a loss of 31 million euros in 2020². An administrator and a judicial representative were appointed to oversee the company for a period of six months. FIB is therefore a diversified group that has grown through acquisitions and investments in various sectors, but that also faces some challenges in managing its debt and profitability. Its future will depend on its ability to restructure its finances and to adapt to the changing market conditions.