The implementation of the agreement concluded last January and March for the sale of Casino stores continues. On Tuesday, announced the distributor, in the grip of great financial difficulties, 121 out of the 287 concerned had just been sold. The plan still raises big questions about the future of employees.
Another step has just been taken in the sales plan for Casino stores. On Tuesday, the distributor announced the sale of 121 large format stores out of the 287 affected by the agreement concluded with Auchan on January 24 and the Les Mousquetaires and Carrefour group on February 8.
However, despite the assurances contained in the agreements regarding the commitment of the buyers “ to take over all employment contracts assigned to the transferred stores “, the fact remains that there is great concern among employees who are already dreading the next steps planned for May, June and September. The revealed reorganization plan also envisages a reduction in the workforce, the range of which is between 1,300 and 3,200 released employees.
Great concern among Casino employees
Assurances and promises do not reassure. The buyers in fact assure of their desire to “ maintain the provisions and benefits resulting from the Casino collective status for a minimum period of 15 months from the date of completion of the transfer “, but employees are apprehensive about the future. In its same press release, Casino already announces that the next “disposals of the remaining 166 stores will take place in two stages, May 31, 2024 and July 1, 2024”. which makes staff fear another wave of job cuts which would affect the workforce spared by previous departures.
Forced by an acute financial crisis, the distributor is, in fact, planning to sell all of its large format stores. On this subject, it was also specified that “Les Mousquetaires bought 65 stores and a drive-thru on Tuesday, Auchan 32 stores and Carrefour 23 stores. “The sales of the remaining 166 stores will take place in two stages, on May 31, 2024 and July 1, 2024”. This “transaction was carried out, between the two parties, “on the basis of an enterprise value of the sold stores of 698 million euros,” we explain in the same press release.
Finally, it should be remembered that following negotiations which lasted almost 5 weeks, the distributor Casino had reached an agreement with the buyers Auchan and Intermarché providing for the sale of 288 stores throughout France. billion euros,
