2024-11-15 12:48:00
Philippe Ginestet, founder of the bazaar brand GiFi, who reached an agreement in March to reschedule his debt, decided to “ hand over “, indicated Friday the group’s lawyer, of which a staff representative said “ very worried ».
« At 70 years old and after forty-five years at the head of the group, Philippe Ginestet’s absolute priority is to hand over the reins in the best possible conditions to develop this unique brand. » and has “ everything to become number one in your sector », declared his lawyer Me Christophe Dejean, confirming information from the Informed.
If a sale were to be finalized, it would only concern the commercial brand and not the real estate, he clarified.
6,500 employees
The Lazard bank has been mandated to receive first offers by Monday, according to a spokesperson for the group which has more than 700 points of sale in 17 countries but is mainly located in France, where it employs more than 6,500 people.
In March, the distributor announced an agreement with “ financial partners » to reschedule your debtafter calling for help from the interministerial committee for industrial restructuring (Ciri), a department of the Ministry of the Economy responsible for supporting companies in difficulty.
The group, which says it achieved 1.3 billion euros in turnover last year, then mentioned a problem of switching over an internal IT system in mid-2023.
“We are really in the hole”
« We are really very worried “, a staff representative said on condition of anonymity on Friday. “ We’re on the street, the numbers aren’t there, we’re really in a hole. We have a lot of suppliers who are not paid “. One of them, who did not want to be named, confirmed that they were awaiting payment.
« For a year, two years, many have resigned, left forced by the company too (…) The priority is above all to save all jobs », added the trade unionist, regretting the absence of information from management “ despite our requests and reminders ».
« We have heard of buyout proposals from Mr. (Alexandre) Zouari for two or three months », He further indicated, in reference to the group that owns the Maxi Bazar and Stokomani brands.
« Some leaked information comes from the attempt at destabilization “, declared for his part Me Dejean without mentioning any names.
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What are Philippe Ginestet’s plans for ensuring the company’s stability during the transition of leadership at GiFi?
**Interview with Philippe Ginestet, Founder of GiFi**
*Date: November 15, 2024*
**Interviewer:** Philippe, thank you for joining us today. You’ve mentioned that your priority is to hand over the company. Can you tell us why this is so important to you at this stage of your career?
**Philippe Ginestet:** Absolutely. After 45 years at the helm, I’m focused on ensuring a smooth transition for GiFi. It’s essential to me that the brand continues to thrive and maintain its unique position in the market.
**Interviewer:** There have been discussions surrounding GiFi’s financial restructuring. How has the recent agreement to reschedule debt impacted your strategy moving forward?
**Philippe Ginestet:** The financial restructuring has provided us the necessary breathing room to stabilize our operations and continue investing in our brand’s growth. We’re committed to overcoming recent challenges, including issues with our IT systems.
**Interviewer:** GiFi has over 700 stores and employs more than 6,500 people. How do you envision the future of the company in terms of employee welfare during this transition?
**Philippe Ginestet:** The welfare of our employees is my top concern. I want to assure them that this transition should not disrupt their jobs; rather, it should position GiFi for even greater success in the future.
**Interviewer:** What do you think makes GiFi capable of becoming the number one brand in its sector?
**Philippe Ginestet:** We have an incredible team and a strong brand identity that resonates with our customers. With the right leadership and vision, GiFi has everything it needs to lead the market.
**Interviewer:** Is there anything else you want to communicate about the sale of GiFi, especially about what will happen to the real estate involved?
**Philippe Ginestet:** It’s important to clarify that if we move forward with a sale, it will focus solely on the commercial brand, distinct from our real estate assets.
**Interviewer:** Thank you, Philippe, for your insights. We look forward to seeing how GiFi evolves in the coming years.
**Philippe Ginestet:** Thank you for having me. I’m excited for what lies ahead.
