Casino to Sell Six Stores
June 07 2019 - 2:43AM
Dow Jones News
By Olivia Bugault
Casino Guichard-Perrachon SA (CGUSY) said Friday that it signed
unilateral purchase commitments to sell six of its stores for a
total 18.3 million euros ($20.6 million).
The French supermarket company said the sale of its stores,
which include one hypermarket, four supermarkets and one Leader
Price, is part of its strategy to sell structurally loss-making
stores, and should be completed during the second half of 2019.
"The agreements signed provide for the continuation of the
employment contracts of the employees of these stores, in
accordance with legal rules," the company said.
Casino specified that the stores represented a trading loss of
roughly three million euros in 2018.
Write to Olivia Bugault at olivia.bugault@dowjones.com
(END) Dow Jones Newswires
June 07, 2019 02:28 ET (06:28 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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