May 23, 2019 / 6:47 PM / 7 months ago

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

PARIS, May 23 (Reuters) - Debt-ridden French supermarket chain Casino said that a decision to place its parent company Rallye 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)

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