Casino: the rescue plan validated by the Paris commercial court. The decision paves the way for the restructuring of the group's debt and the takeover by a consortium led by Czech billionaire Daniel Kretinsky.
The group employing around 50,000 people in France entered into an accelerated safeguard procedure at the end of October in order to restructure its debt which had become unsustainable. “There is reason to adopt the draft accelerated safeguard plan presented by the company” Distribution Casino France, the court ruled.