2023-07-28 17:53:32
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The Casino brand announces this Friday an “agreement in principle” with “some of its main creditors” around the takeover offer from Czech billionaire Daniel Kretinsky. There is “no guarantee on the preservation of employment”, worries the CGT of the group.
Published on 07/28/2023 19:53
Reading time: 2 min.
The Casino group has 56,000 employees in France. (REMY PERRIN / MAXPPP)
“The offer of Mr. Kretinsky and Mr. Lacharrière, which plans to bail out the Casino group, remains the least worst of the solutions”said Friday, July 28 on franceinfo Michel Rieux, central CGT deputy union representative of the Casino group, while a “agreement in principle” with key creditors of the French distributor was found on the takeover offer of Daniel Kretinsky and his allies, a major step in the rescue of Casino in great difficulty.
>> What will happen now for Casino supermarkets with Daniel Kretinsky’s takeover offer?
But this does not allay the concern of the employees. “We are watching the offer carefully”emphasizes Michel Rieux. “Employees remain uncertain regarding their future and that of Casino”. The CGT representative recalls the “very poor cumulative results over the past three years”to which “Added to the catastrophic results of the first half of 2023”.
“We can only doubt the future of the group and fear, from September-October, a receivership”
Michel Rieux, from the CGT of the Casino group
at franceinfo
Michel Rieux believes that Casino is on borrowed time because, despite “certain announcements” made by Daniel Kretinsky, there is “no guarantee on the preservation of employment and the preservation of the social accounts of Casino employees”. The group’s CGT is concerned regarding the “perspective of franchising the hypermarkets and supermarkets park” of Casino. “Given the results of the first quarter, we feel that there will be a big wave of franchises. We have no transparency on the subject”.
The group’s hypermarkets in great difficulty
Michel Rieux acknowledges that Daniel Kretinsky “brings capital to Casino” to consider “a new start”. But he denounces “the lack of investment over the last few years and the lack of strategic and commercial vision which have dragged the group into the abyss in which we are”. The trade unionist wonders regarding “the means” billionaire “to raise the bar”. “Will he have capital to restore employment, cashiers and service in the stores?”
The group’s CGT deputy central union delegate adds that currently, if “convenience stores, stores under 1,000 square meters are doing well”for supermarkets and hypermarkets, “It’s a real disaster in terms of customer traffic and turnover”. According to him, in these very large surfaces, “we have results every day that are at least 40% in terms of turnover and volume”.
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