GiFi, in problem, calls its banks for assist | EUROtoday

The Casino Group's restoration has not but been accomplished and one other French distributor is already asking for assist. According to a number of sources, a primary assembly was organized, Monday February 26, underneath the aegis of the interministerial committee for industrial restructuring, connected to Bercy, regarding the GiFi group, which has 600 factors of sale and employs 6,800 folks, for a determine enterprise of 1.3 billion euros in 2023.

The model, specializing in low-cost house and household gear, based in 1981 by Philippe Ginestet – “Gi” for Ginestet and “Fi” for Philippe – requested its banks to renegotiate its debt, a part of which was assured by the State through the Covid-19 disaster. The group additionally seems to be late in VAT funds. According to an individual accustomed to the matter, “the subject is taken very seriously at Bercy, taking into account, in particular, the social issues”. Particularly on the firm's headquarters, in Villeneuve-sur-Lot (Lot-et-Garonne), the place 800 staff work.

For its half, GiFi desires to be reassuring. “GiFi is a resilient company which has always been profitable and has overcome all the successive crises in our country since the Covid years,” insists Mr. Ginestet, in an electronic mail addressed to World. The group explains that it’s a worthwhile firm, however that this important state of affairs is linked to a chaotic migration, launched in June 2023, of all of its info techniques in direction of new software program referred to as ERP (Enterprise Resource Planning), meant to automate, particularly, the model's provides.

A brand new strategic plan

Missing merchandise in shops, orders that don’t arrive on the proper factors of sale, this interprets into much less turnover, and subsequently decrease money receipts, significantly on the finish of the 12 months, a serious interval. for distribution. “Every two or three years, there is someone who hits the wall because of a computer switch, relates an expert in the sector. Boulanger almost died about ten years ago when he remained for several months without being able to deliver. »

GiFi has “took advantage of the challenges caused by the complex implementation of a new ERP to relaunch a new dynamic for the group”, continues Mr. Ginestet, recalling being “pending payment of significant compensation from our insurers linked to Covid”.

According to our info, the discussions with Crédit Mutuel, Crédit Agricole or BNP Paribas intention to supply financing to Mr. Ginestet's holding firm, to permit the entrepreneur to reinject funds into his enterprise. The model is refining a brand new strategic plan geared toward recovering turnover. GiFi is counting, particularly, on its growth in Ile-de-France from the 16 Bricolex DIY shops, taken over in March 2023.

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