In front of Gifi's head office in Villeneuve-sur-Lot, some people ignored the news. ” Ah good ? You told me, I didn’t know,” says an employee before entering the building. It must be said that the announcement was unexpected to say the least. The founder of Gifi, Philippe Ginestet, has decided to put the brand that he himself founded up for sale. “Gifi is his life’s work. He will not make any decision that will endanger the company or the employees,” reassured Didier Pitelet, spokesperson for the group.
Offers are expected by Monday, November 18, but some buyers have already shown interest, such as the Carrefour or Zouari groups, owner of the Stokomani and Maxi Bazar stores. Information that the brand did not wish to confirm: “For the moment, Philippe Ginestet is looking for financiers. I don't know how long it will take but the objective is to ensure the sustainability of Gifi. It's in progress, so I can't say more. »
Attempted destabilization?
Faced with the announcement of the sale published in the media yesterday, Philippe Ginestet wanted to explain himself to his employees: “I am doing everything possible to redress a situation whose origins we all know, namely the shift in our computer system,” he explained in an internal document, of which “Sud Ouest” was able to read. An explanation that Guillaume Lepers, MP for the constituency and former employee of the company, believes: “It wouldn’t be surprising. This is a fairly common process in the world of mass distribution. I would therefore not undertake to comment on a sale of which I currently have no information. »
Although he remains cautious, the MP does not deny the possibility of a sale of part of the capital: “Philippe Ginestet has been looking for financiers for a long time. This was already the case when I worked alongside him and everything was going well. And bringing in new shareholders does not necessarily mean closing the company. » A scenario in which Guillaume Lepers does not believe, nor even that of a possible relocation if Gifi were to land in hands other than those of its founder: “Villeneuve-sur-Lot has assets: first of all, quality , as well as the skills, of the employees, who have been there for a long time, and also for life. Two elements that the business world is looking for today. »
At the end of 2023, the brand suffered a “bug” following a change in its computer system. This was followed by the start of the financial problems that the brand is still experiencing today: “There are a whole bunch of problems that resulted from this, such as stores that were not supplied or problems managing goods. stocks. We faced a cash flow difficulty not seen in forty-three years. »
“Ensuring the future of Gifi”
To cope with this significant loss of turnover, Gifi benefited from “very strong support from the banks”. But even today, the impact of this crisis still seems to be felt in the company, which employs more than 6,500 people in France, half of whom in the South-West, and no less than 650 in Villeneuve-sur -Lot, cradle of the group.
After a rainy summer and below expectations in terms of sales, the brand wants to show that it is getting back on track. “Our last few months have been good and we are preparing for a wonderful end-of-year celebration,” the group’s spokesperson would like to reassure. Philippe Ginestet wants to reposition the company on its DNA: low prices. Today, 87% of products are less than 10 euros. »
“My absolute priority, as I have already told you several times, is to ensure the future of Gifi; this company, which I created and to which I have dedicated my life for forty-three years, must survive me in the best conditions”, specified the founder of the brand, in his letter addressed to employees.
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