Casino: holding' debt troubles will not impact supermarket chain's staff or strategy

Finatis SA

23/05/2019 19:46

PARIS, May 23 (Reuters) - Debt-ridden French supermarket
chain Casino  CASP.PA  said that a decision to place its parent
company Rallye  GENC.PA  under administrative measures would not
impact its staff, nor Casino's broader business strategy.
    "Casino has been informed by its reference shareholder,
Rallye, of the launch of a safeguard procedure relating to
respectively Rallye and its subsidiaries Cobivia and HMB, as
well as Foncière Euris, Finatis and Euris as announced today by
these companies," Casino said in a statement.
    "These procedures do not relate to Casino group, nor its
operations, nor its employees, and do not impact the ongoing
execution of its strategic plan," added Casino.    

 (Reporting by Sudip Kar-Gupta;
Editing by Michel Rose)
 ((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))