Casino is doing badly. But this Friday, his house, Rallye, announced on Friday that it had reached an agreement with the holders of its debt guaranteed by Casino securities placed in “safety trusts”. The distribution group is currently in conciliation proceedings for a period of four months in order to renegotiate its debt of 6.4 billion euros for Casino and around 3 billion for its parent company Rallye.
“Under the terms of this agreement, the creditors concerned have waived their right to claim any event of default” linked to the conciliation procedure aimed at Casino, according to the press release. In return, these creditors may benefit from the right to appropriate their share of Casino shares or to order their sale.