Casino Group announces that it has entered into new unilateral purchase commitments as part of its strategy to sell structurally loss-making stores (hypermarkets, supermarkets, Leader Price).
These promises represent a total amount of 18.3 million euros and concern:
– The Barberey-Saint-Sulpice hypermarket (10), with a view to sell the business and real estate to a Leclerc member;
– 5 stores (4 Casino Supermarkets and 1 Leader Price), with a view to their sale to Groupement Les Mousquetaires.
In 2018, these stores represented a turnover excluding tax of approximately 43 million euros and a trading loss of approximately 3 million euros.
The agreements signed provide for the continuation of the employment contracts of the employees of these stores, in accordance with legal rules. The sale is expected to be completed in the second half of 2019, subject to prior consultation with employee representative bodies and the fulfilment of the usual conditions precedent.