Casino Reports €5.7 Billion Loss Days After Rescue Plan Approval

Casino Guichard-Perrachon SA reported a loss of €5.7 billion ($6.2 billion) for 2023, days after a group of creditors and investors won approval to take control of the embattled French retailer.

The net consolidated loss included financial restructuring charges and impairments related to asset disposals, while trading profit dropped by more than 60% as even its best-performing trading brands recorded smaller margins, according to an earnings report published on Wednesday.