A major reorganisation at Casino could cost up to 3,200 jobs as the French retailer aims to become the market leader in convenience stores. Meanwhile, the chain is also strengthening its purchase alliance with Intermarché and Auchan.
New course
The loss-making French retail group, which already disposed of 288 hypermarkets and supermarkets to focus exclusively on convenience, has announced details of a sweeping restructuring plan. In the process, between 1,293 and 3,267 jobs will be lost: partly at head offices, partly in stores and logistics platforms that find no interested buyer.
A new management has been appointed at Casino since a month, after a consortium around Czech billionaire Daniel Kretinsky acquired a majority of the shares. The latter is resolutely opting for a new direction, aiming to become the French market leader in convenience stores with the enseignes Monoprix, Monop’ and Franprix, both through franchising and with integrated branches.
Casino will invest 1.2 billion euros in modernising its retail estate over the next few years. The group is also entering into a new long-term purchasing alliance with Intermarché and Auchan, to maintain sufficient purchasing power despite its smaller size.
