Optic 2000 in financial trouble after €30 million fine | RetailDetail

Optic 2000 in financial trouble after €30 million fine

Optic 2000 in financial trouble after €30 million fine

Optic 2000, France's largest optical chain, has asked for deferred payments after a commercial court gave the company a 29.5 million euro fine, to be paid to its competitor Optical Center.

"Billing fraud" to scam health insurance

Optic 2000 was fined because of a billing scam dating back to 2008, when its competitor Optical Center had sent mystery shoppers to Optic 2000. In a dozen cases, these mystery shoppers received a bill that did not reflect the initial quote, which proved - according to Optical Center - that Optic 2000 manipulated the pricing of its glasses and frames to get larger health insurance refunds.


The company, which has 1,200 stores in France, maintained it was a "mistake" by several of its members and that it could not be held accountable for that. The judge however accepted Optical Center's reasoning and considered it a case of "deliberate, organized fraud". The judge felt Optic 2000 could and should have intervened.


Appeal without suspensory effect

Optic 2000 immediately appealed the ruling, but that has no suspensory effect, which means it will have to pay the fine immediately. It has called for the "procedure de sauvegarde" (deferred payment), so that it can spread payments up to 10 years. The group also emphasized that this is not equal to "redressement judiciaire" (guardianship).


This particular case is not Optical Center's first court battle. It wants to become France's largest optician chain and has already engaged in judicial battles with Afflefou, Krys and Atol.

Questions or comments? Please feel free to contact the editors

"Protectionism makes everyone poorer" (Christian Verschueren, EuroCommerce)


Trade wars and discrimination within the single market create growing pressures on retailers in Europe. EuroCommerce Director-General Christian Verschueren is concerned, but looks forward confidently to the future.

Belgian online turnover surpasses 10 billion euro


e-commerce is becoming increasingly popular, in Belgium as well. However, there is still a lot of growth potential online: that is BeCommerce’s main conclusion from its Market Monitor 2017. The report states that there was a 10.05 billion euro online turnover in Belgium last year.

Claire’s files for bankruptcy


American chain Claire’s has now officially filed for bankruptcy, although it only relates to the company’s American division.

Amazon looks for additional cuts with manufacturers


Amazon wants to cut costs and that is why it will charge manufacturers with logistical fees more quickly. Up until now, the American online retailer often took it upon itself, but that move no longer seems profitable.

Amazon targets Toys 'R' Us stores


Amazon is apparently interested in several of bankrupt Toys ‘R’ Us’ stores, because their locations and stores would fit Amazon’s own retail formulas.

The end of the retail employee


For the first time it’s safe to say that the future of work is really fabricated by futuristic events. People will need to become just as versatile as AI technologies and blockchain applications. Are you ready?

Back to top