Casino: in financial difficulty, the brand sells 25 stores to Carrefour

Casino: in financial difficulty, the brand sells 25 stores to Carrefour

The Casino distributor, plagued by serious financial difficultiesannounced Thursday that it had reached an agreement with Carrefour to sell it 25 supermarkets and hypermarkets.

“The completion of the transfers would take place on April 30, 2024, after consultation with the staff representative bodies concerned,” according to a press release from the Casino group, which does not give the list of stores concerned.

The 25 brands are part of a wave of 288 hypermarkets and supermarkets of which Casino had recorded the sale at the end of January Auchan and Intermarché.

The same day, Carrefour announced that it had entered into “exclusive negotiations” with Intermarché to buy back part of the store network sold by Casino, to avoid competition problems.

Social commitments

While the dismantling of the Casino group arouses fears among its approximately 50,000 employees“Carrefour has made social commitments similar to those of the Les Mousquetaires group (owner of Intermarché, Editor’s note) towards the employees assigned to the transferred stores and service stations”, indicates in the press release published Thursday the distributor based in Saint-Étienne .

The Paris commercial court is due to examine the Casino group’s draft accelerated safeguard plan on Monday.

In great difficulty, the distributor signed an agreement in July providing for the restructuring of its debt and a change of shareholding by March April 2024. It is the Czech billionaire Daniel KretinskyTHE Frenchman Marc Ladreit de Lacharrière and the British fund Attestor, which must take control on this date.

Casino specified Thursday that the sale of the 25 stores to Carrefour is conditional on obtaining “all the usual authorizations”, and in particular those from the “competent competition authorities”.

At the end of December, the Competition Authority forced Intermarché to sell 3 of the 61 stores acquired from Casino to its rivals as part of a first wave of store sales.

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