Daniel Kretinsky challenged to get Casino out of the rut

A Monoprix store in Lyon, owned by the Casino group in February 2023. Antoine Boureau/Antoine Boureau/Hans Lucas via

DECRYPTION – The businessman intends to put the group back on track by 2028, at the cost of 2.4 billion in investments.

“More than ever in the starting blocks”. According to Philippe Palazzi, destined to take over the general management of Casinoevery day counts to launch one of the most delicate recovery projects in food distribution.

The Saint-Etienne distributor’s board of directors met at the end of the day on Monday to approve the recapitalization and debt restructuring offer proposed by Daniel Kretinsky, Marc Ladreit de Lacharrière and five of the group’s main creditors. They propose to provide 1.2 billion euros of new money on the occasion of a next capital increase, in parallel with the abandonment of 6.1 billion euros of debt.

The financial side is very good, with enough fresh money. The industrial component is also very good, with a realistic business plan

The entourage of Jean-Charles Naouri

At Casino management, we are delighted with the favorable outcome of the conciliation led by Marc Senechal, with a solution that preserves the integrity of the group by avoiding both the dismantling and job cuts. “The financial aspect is very good, with enough fresh money, do we congratulate each other…

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