DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5

Groupe Casino Offloads Further Six Stores

By Dayeeta Das
Share this article
Groupe Casino Offloads Further Six Stores

Groupe Casino has announced it is selling six ‘structurally loss-making’ stores for a combined total of €18.3 million.

The group announced it is selling a Géant hypermarket in Barberey-Saint-Sulpice to a Leclerc operator.

It is also selling a portfolio of five stores, including four Casino supermarkets and one Leader Price, to Groupement Les Mousquetaires.

Sales Performance

In 2018, these stores represented a turnover excluding tax of approximately €43 million, Casino said, and a trading loss of approximately €3 million.

‘The agreements signed provide for the continuation of the employment contracts of the employees of these stores, in accordance with legal rules,’ Casino said.

ADVERTISEMENT

The sale of the stores is expected to be completed in the second half of 2019, subject to competition and regulatory approval, and consultation with employee representative groups.

© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.