Groupe Casino agrees to sell 33 stores to Lidl | Progresiv
French retail giant Groupe Casino has announced that it has signed two agreements to sell 33 stores to Lidl and one Géant hypermarket in Roubaix to a Leclerc member for 42 million euros. 
The move is a part of the retail group's ongoing strategy to divest structurally loss-making stores including hypermarkets, supermarkets, and Leader Price stores.
Both agreements provide for the continuation of services of employees in these stores, in accordance with legal rules.
The disposals are expected to be completed in the first half of 2019.
Retailer Casino announced plans to sell its contract catering business 'R2C' to Britain's Compass.
The first agreement comprises the divestment of 18 integrated stores for 25 million euros. The stores include 8 Leader Price outlets, 8 Casino supermarkets, 1 Hyper Casino and 1 Géant hypermarket in Roubaix.
In 2018, these stores registered a turnover of 88 million euros, accounting for a trading loss of 12 million euros.
The retail group has also agreed to sell another 16 stores, which include 9 Leader Price and 7 Casino supermarkets, to Lidl for 17 million euros.
The 16 stores generated a turnover of 60 million euros in 2018, with a trading loss of 9 million euros. (www.esmmagazine.com)
