One Year After Its Rescue: Why Casino Is Still Battling Through a Storm

Why the 12-5-30 Incline Walking Method Is the Ultimate Fat-Burning Workout, According to Fitness Experts

The ultimate trick to banish mold from your bathroom grout in just 7 minutes—no vinegar or baking soda needed

A year after being acquired by Daniel Kretinsky, Casino Group has refocused on its Franprix and Monoprix brands, yet its future remains uncertain.

In the basement of a shopping center in the La Défense business district, Casino Group’s annual general meeting takes place before a sparse audience on Wednesday, April 30. A year after the rescue and acquisition by Czech investor Daniel Kretinsky, the mood at this key annual event is almost somber, a stark contrast to the lively meetings once led by former CEO Jean-Charles Naouri, which used to draw large crowds. A chapter has ended, symbolized by a preliminary hearing for Naouri held two days earlier, ahead of his trial for market manipulation and corruption scheduled in October.

“The management relies on franchisees to largely fund the renovation of sales outlets”

However, the financial situation remains precarious. Although the net loss has been reduced from 6 billion euros to about 300 million thanks to the sale of the hypermarkets, the primary sources of loss, and the debt has decreased from 6 billion to 1 billion euros, the recovery is not yet evident, and the company continues to burn through cash, warns Clément Genelot, a financial analyst at Bryan Garnier & Co. He points out the risk that the group might not meet its bank deadlines by the end of 2026. Philippe Palazzi remains optimistic: “The rescue phase is over, and we are now entering a phase of recovery.”

With ongoing financial challenges, Casino is shifting its strategy to strengthen its presence in the Île-de-France region and focus on in-store dining.

What are the future strategies?

If the situation does not improve within two years, Daniel Kretinsky faces three choices, according to Clément Genelot: “Either inject more money, open his capital, or sell.” In the third scenario, the billionaire would need an offer of 1.8 billion euros to break even. Carrefour could be a potential buyer, offering a share of its capital and thus a seat on its board of directors to Kretinsky. Alternatively, Philippe Palazzi might explore other options. “We are keeping all possibilities open and are very attentive,” he responds, playing his cards close to the chest, when a small shareholder inquires about a potential alliance with Metro, the German wholesaler also owned by the Czech billionaire.