Europe Latest News Retail News Retail News

The Casino Group announces the sale of three hypermarkets


The Casino Group, which will unveil Today its mid-year balance sheet, has just announced a new sale of three hypermarkets Géant Casino whose operation is in deficit.

The operation allows the group to recover 42 million euros while the outlets generated in 2018 a turnover excluding taxes of about 76 million euros and a loss of operating profit of about 2 million euros. euros.

The stores sold are:

The hypermarket Marmande (47), for the sale of the walls and the business to a professional experienced in the retail sector, which plans to operate under U sign;
The Onet-le-Château hypermarket (12), for the sale of the business and walls to a System U partner;
The hypermarket of Béziers (34), with a view to the sale of the business and walls to a member Leclerc;
The signed promises provide for the continuation of the employment contracts of the employees of these stores, in accordance with the legal rules. “The completion of the disposals is expected at the end of 2019, subject to the prior consultation of the employee representative bodies and the fulfillment of the usual conditions precedent,” the Casino Group press release concludes.

Related posts

Simpli Home (CCT Global Sourcing Inc). Ranks No. 163 on the 2017 PROFIT 500


Tesco aims to repay £1.4 billion debt before September


Walmart acquires same day delivery startup parcel