"Casino in Turmoil: French Distributor to Sell Points of Sale to Intermarché"

2023-05-27 20:16:16

Posted on 27/05/2023 22:16

Update on 27/05/2023 22:45

Video length: 2 min.

France 3

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Casino, which employs 50,000 people in France, is faced with very heavy debts. The group will have to sell points of sale to Intermarché.

Is this the beginning of the end for Casino? With sales down 2.3% in the last quarter, the group can no longer meet its debts. At the end of 2022, they amounted to 6.4 billion euros. In times of inflation, many customers have turned away from the group. Thursday, May 26, the distributor therefore announced that it wanted to sell part of its points of sale to Intermarché.

Casino employs more than 50,000 people in France

It would be 180 hypermarkets, supermarkets and convenience stores, representing 1.15 billion euros in turnover. Over the next four months, the distributor will also try to renegotiate its debt. The first store sessions should take place by the end of the year. The Casino group employs more than 50,000 people in France, and 200,000 worldwide.