Guillaume de Feydeau, who had been appointed president of J.B. Martin last October, has resigned from his post. He has been replaced by a Portuguese manager, Avelino Machado. De Feydeau had presented a reorganization for the loss-making French shoe company that have been endorsed by the Paris bankruptcy cout last December, giving it six months to implement it, but reportedly, J.B. Martin's controlling shareholder, Francis Lagarde, refused to provide the required financing.

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