Jean-Charles Naouri counterattacks. The businessman sent a letter to the employees of the Casino group. In this letter dated June 12, 2023, obtained by BFM Business, Jean-Charles Naouri confirms that management has requested the opening of conciliation proceedings with its creditors.
This friendly procedure, decided for a period of four months “possibly extendable for one month”, should allow the company, in debt of 6.4 billion euros at the end of 2022, including 4.5 for its activity in France, to reach an agreement with your creditors with a view to a possible restructuring of your debt.
Casino debt at the center of speculation
Who can “repair this financial imbalance”, in the words of the Chairman and CEO? Jean-Charles Naouri evokes the imprint of the entry “of one or more new investors”. What to feed the rumors of the rise in the capital of the Czech billionaire Daniel Kretinsky or the seizure of power by the trio of “musketeers” Matthieu Pigasse, Xavier Niel and Moez-Alexandre Zouari.
In the rest of the letter, Jean-Charles Naouri develops the three objectives he pursues, namely “sustaining the group”, “preserving our social model” and “looking confidently into the future”.
Naouri “determined”, tries to reassure
Thus, the CEO ensures that the historic headquarters of the Casino will not leave the city of Saint-Etienne. Another point of surveillance of the unions: employment. The CEO assures that he is “very attentive […] quantum au maintien des 50,000 emplois en France”, et ce, après que les élos du personnel ont launched a procedure de droit d’alerte économique le même jour que la diffusion de cette lettre. This procedure permet justement aux salariés de demand des explanations à the direction.
As a reminder, the group employs a total of 200,000 people worldwide through numerous brands.
Employment protection objective
At the center of the storm for several months, in particular with the temporary suspension of Casino’s share listing and weakened by the abandonment of the merger between the retail brand and the Teract group, Jean-Charles Naouri is playing appeasement. “He can be assured of my total determination and energy to defend his interests and those of Casino,” he wrote.
To the employees, the CEO says that he is “totally committed, at your side (…) in protecting our Group, our model and our strategic direction”.
Source: BFM TV
