The bankers of Berthet-Bondet SA, the French public eyewear company controlled by the eponymous family, have agreed to reschedule its debt, turning much of its short-term liabilities into medium and longterm debt. The company has also eliminated 9 jobs to reduce its cost base, and it's now budgeting breakeven results for the year ending next Aug. 31 on 5 percent higher sales.
For the year last Aug. 31, 2001, the group has reported a net consolidated loss of e1,337,884, after extraordinary charges of e234,318,000, as compared to a net loss of e1,186,852 in the previous year. On a comparable basis, sales were up marginally to e18,801,969, including domestic sales of e11,044,906. They are not directly comparable with those of the previous year, partly because of tjhe December 2000 sale of Berthet-Bondet's 45 percent in its French joint venture with De Rigo and the subsequent shutdown of its own loss-making US sales subsidiary in Miami.
Berthet-Bondet has now extended to all of Europe a license it holds for Crayola branded children's eyewear, which was previously limited to France. The company already has the distribution of the Nikon line of eyewear in certain European markets ? France, Germany, England, Italy and Spain. It took over recently from Loubsol the French license for Club Mediterranée sunglasses, focusing on the mass market which represents about 20-25 percent of the firm's sales.