(CercleFinance.com) – The Group announces that it is activating various levers in order to preserve its liquidity throughout the conciliation period (i.e. until September 25, if necessary extended until October 25 at the latest) .
Casino announces the conclusion of an agreement in principle with the French State in order to defer the payment of the Group’s tax and social charges due between May and September 2023, i.e. an amount of approximately 300 million euros.
The group also announces that the conciliators will request in the coming days from all the financial creditors of Casino and its subsidiaries the suspension, for the duration of the conciliation period (i.e. until October 25, 2023 at the most later), the payment of interest (and other commissions) due by the companies in conciliation (i.e. approximately 130 million euros), as well as the installments in principal which are due during this period by the companies in conciliation (i.e. approximately 70 million euros).
The Casino Group and the conciliators have the common objective of reaching an agreement in principle with the main creditors on the restructuring of the Group’s financial debt by the end of July.