Luxembourg's Gucci store forced to close

(ADW) The Gucci shop in the rue Philippe II, in the capital, also closed its doors on Wednesday, following the bankruptcy case concerning 17 stores in the capital.

Following the announcement last week regarding the closure of 17 luxury goods stores in Luxembourg City, Gucci has just closed its doors resulting in six people losing their jobs.

It is still unclear whether Gucci themselves will now operate the store in the capital, however, on Wednesday afternoon appointed curator Yvette Hamilius arrived at the scene, along with one of the two French owners.

The company FCPE, the initials of the French businessmen who own it; Fred Castera and Pascal Einhorn, owe between 600 and 800 thousand euros in Luxembourg Social Security and compensation to  employees and ex-employees amounting to 700 thousand euros.

According to the curator the delayed business tax, the total of which is still unknown, is very substantial and therefore could lead to a final minus figure of seven digits.

Gucci closes less than a year after it was expanded and renovated at one of the most prestigious corners of the City's pedestrian zone.

Another store belonging to the FCPE group and still open in the City centre is French macaroon shop "Ladurée".  It remains open thanks to an agreement reached with the parent company in Paris, according to union sources.