September 30, 2024 16:39 GMT
CONSUMER STAPLES: Casnio (COFP; Secured PIK; NR/NR/B+) store sales progress
CONSUMER STAPLES
Below an update on its "strategic plan". More interesting is how secondary liquidity is for French hypermarkets; "As a result of the Group's refocusing on convenience stores, around 350 hypermarkets and supermarkets have been sold since the end of 2023...18 stores and four logistics platforms have no buyer identified".
Reminder ITM (225) and Auchan (98) took the bulk while Carrefour (25) took a smaller portion - despite having largest market share. Might be worthwhile noting liquidity in secondary - for Auchan's sake.
Presser here.
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