Andrea Felsted, Columnist

France’s Casino Must Spin the Wheel of Debt Again

The French retail group will need to make more disposals to meet its bond maturities over the next three years.

October 19, 2022 at 4:00 AM UTC

Andrea Felsted is a Bloomberg Opinion columnist covering consumer goods and the retail industry. Previously, she was a reporter for the Financial Times.

Time to move some things around.
Source: Bloomberg

Provide news feedback or report an error

Site feedback:

Take our Survey

This article is for subscribers only.

Investors in the French retail group Casino Guichard-Perrachon SA, and parent Rallye SA, may be forgiven for thinking they’ve been here before.

Over the past five years, Casino has embarked on a €4.5 billion ($4.4 billion) disposal program and completed several refinancings. Meanwhile, Rallye — the investment vehicle of Casino chairman Jean-Charles Naouri and controlling shareholder in Casino — agreed to a restructuring plan with the French courts in early 2020. This gave it 10 years to pay back its then €2.9 billion of borrowings.