Casa is now also in liquidation in France. The furniture chain had hoped for a takeover, but this did not materialise in time. Some 700 jobs and 143 stores will be lost.
Covering debts
Following the bankruptcy of its Belgian parent company, Casa France filed for protection from its creditors in March. The chain had to find a buyer quickly, as the Belgian subsidiary Casa International provided essential support services such as logistics, IT and financial services. Casa Netherlands also went bankrupt due to the disappearance of the Belgian subsidiary.
In the absence of an acceptable takeover bid, the curtain is falling. The Bobigny Commercial Court has placed the company in liquidation, with a final decision to be handed down on 27 June. During the recent period, when the chain was under judicial protection, the French subsidiary nonetheless claims to have generated sufficient cash flow to cover a large part of its debts. Cash flow increased from 3 to 15 million euros.
