Casino opens new conciliation proceedings as part of financial restructuring
As part of its plan to strengthen and adapt its financial structure, the retailer has indicated that it is continuing discussions with financial creditors across several group entities.
To facilitate a global agreement within a consistent framework, Casino has requested the opening of conciliation proceedings for several of its companies from the President of the Paris Economic Activities Court. These proceedings would be opened for an initial period of four months, with a possible one-month extension.
The group specified that the appointment of SCP BTSG, represented by Marc Sénéchal, is envisaged as conciliator for certain entities, while SCP CBF Associés, represented by Lou Fréchard, has been requested for the company Quatrim.
The company also plans to seek consent from Quatrim's high-yield bondholders regarding the opening of conciliation proceedings for Quatrim and Monoprix SAS, respectively the borrower and guarantor of these bonds.
Casino emphasized that these proceedings, following those opened in early March, solely concern the financial debt of the targeted companies. They will have no impact on relationships with operational partners, particularly suppliers, or on employees. Operational activities are expected to continue as normal, in line with the group's strategic priorities.
Casino, Guichard-Perrachon SA is one of the leading food distribution groups in France. Net sales break down by activity as follows:
- distribution activitiy (86.4%): owning, at the end of 2024, 7,447 convenience stores, mainly under the names of Casino, Spar and Vival (5,541), Franprix (1,054), Monoprix (625) and Naturalia (222);
- e-commerce activity (12.2%; Cdiscount);
- other (1.4%).
Net sales are distributed geographically as follows: France (99.4%), Latin America (0.1%) and other (0.5%).
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