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"Before long, Casino will disappear": sale of stores, wall of debt... Anatomy of a Fall

2023-12-09T07:08:02.127Z

Highlights: "Before long, Casino will disappear": sale of stores, wall of debt... Anatomy of a Fall. Founded in 1898 in Saint-Étienne (Loire), taken over by Jean-Charles Naouri in 2005. The group manages hypers, supers, but also Cdiscount, which is owned by the French government. It is also responsible for the sale of the French football club Ligue 1, which was sold to BNP Paribas in 2007. The sale of Ligue 2 to PSI in 2007 was the first of its kind in the world.


Founded in 1898 in Saint-Étienne (Loire), taken over by Jean-Charles Naouri in 2005, the group, which manages hypers, supers, but also Fra


It's quite a twist of fate. This summer, Jean-Charles Naouri, the CEO of the Casino group, had thought to find a buyer while escaping a sale to the cut of this distribution behemoth that employs 55,000 people in France and 200,000 worldwide.

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Avoiding the carve-up of this multifaceted group – hypermarkets, supermarkets, convenience stores (Vival, Spar, etc.), Monoprix, Franprix and Cdiscount – and also preserving the historic headquarters in Saint-Étienne (Loire) – is what he promised the founder's grandson, Antoine Guichard, when he took over the reins of the company in 2005.

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Source: leparis

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