Economy. GiFi requested a rescheduling of its debt from its creditors
[ad_1]
The bazaar brand GiFi is discussing a rescheduling of its debt with its creditors, but “pays its suppliers and operates normally”, and employment is “not threatened”, a close source told AFP of the file this Monday.
Daily life The world revealed on Wednesday that the distributor had requested support from its creditors, calling for help from the interministerial committee for industrial restructuring (Ciri), a department of the Ministry of the Economy responsible for supporting companies in difficulty.
Loan rescheduling
“GiFi is a group which has a turnover of 1.3 billion euros, with an Ebitda (gross operating surplus, editor’s note) which has always been strongly positive,” insisted the source close to the matter, specifying that “this are loan reschedulings that are currently being played out.”
According to this source, the brand hopes for an agreement in the coming weeks. Gifi does not wish to comment because the proliferation of press articles, according to the brand, is detrimental to relations with its suppliers, and even to ongoing negotiations on debt rescheduling.
An expensive computer system
“GiFi pays its suppliers and operates normally, employment is not threatened either,” said the source, according to which these rescheduling requests mainly follow a problem of switching over an internal IT system.
This operation, carried out in mid-2023, led to problems in particular with inventory management and store supplies, which resulted in significant losses in turnover. These problems are “in the process of being resolved”, assures the same source.
Philippe Ginestet, the founder of GiFi, reacts
The low-price specialist was founded in 1981 by a former horse dealer, Philippe Ginestet. “GiFi is a resilient company which has always been profitable and has been able to overcome all the successive crises in our country since the Covid years,” he wrote in a message sent last week to several media, authenticated by the communication of the sign.
“2023 will have been a pivotal year for the brand: we took advantage of the challenges caused by the complex implementation of a new ERP (internal management software, Editor’s note) to relaunch a new dynamic for the group,” he writes again , while a strategic plan must be presented soon.
[ad_2]
Source link