Philippe Ginestet, founder of the GiFi brand, has decided to put his company up for sale. According to The Informed et The Worlda bank was mandated to find a buyer. Offers are expected by Monday, November 18.
GiFi in turmoil again. A year after facing serious financial difficulties, the famous brand of low-cost products for the home (furniture, garden, household linen, clothing, games and toys, etc.) is once again going through a dark period and is on the verge of be put up for sale. According to The Informed et The WorldPhilippe Ginestet, founder of GiFi, mandated the Lazard bank to find a buyer. Offers are expected by Monday, November 18. Large groups such as Carrefour or Zouari (which owns the Stokomani and Maxi Bazar stores) could be interested.
Last May, GiFi was able to reschedule its debt and extend the deadline for a short-term sale. GPG, Philippe Ginestet's holding company, also benefited from a loan of 100 million euros. Ready, as specified The Worldwhich had been pledged on real estate assets. A new financing plan of this type is still possible, but the banks have made it a condition that the process of selling GiFi progresses concretely. Hence Philippe Ginestet's decision.
The 6,500 GiFi employees worried
GiFi claims to have recorded a turnover of more than a billion euros in 2024, an amount up compared to 2023, but still insufficient to replenish the coffers and replenish stocks for the start of next year. The interministerial committee for industrial restructuring (CIRI) is monitoring the matter closely, as are the 6,500 employees employed by GiFi throughout France. Employees are worried. Some have confessed in the columns of Southwest having learned of the current procedure through the press.
published on November 15 at 4:30 p.m., Maeliss Innocenti, 6Medias
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