Novel Use of the FCPE Law for La Redoute

Henry Pieyre de Mandiargues and Nicolas Courtivron were interviewed on their pioneering use of France’s FCPE (company mutual fund) law to create employee and management ownership of La Redoute and Relais Colis. For these companies, the lawyers said, “The choice of FCPE reorganization was driven by the desire of the company leaders to involve the largest possible number of employees. It was also a goal to establish a mechanism adapted to an uncertain time horizon for restructuring which did not restrict the ability of employees to provide the company with liquidity.”