On 27 June, the Bobigny Commercial Court declared Casa France bankrupt, converting its receivership proceedings into liquidation. The ruling means the permanent closure of all 143 of the chain's stores across France and the end of its support functions.
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The French subsidiary, part of the Belgian-based Casa International group, had warned earlier in June that liquidation was likely. This outcome follows the collapse of Casa International in March, which had provided vital central functions including logistics, IT, finance, and purchasing. The loss of this support made continued operations in France impossible.
Casa France employed 577 permanent staff and around 100 on fixed-term contracts. It stated that this "exogenous shock" came on top of a furniture and decoration market already hit by the crisis in the real estate sector.
The company reported that it now holds €15 million in cash, up from €3 million at the start of proceedings, allowing a "significant portion of the liabilities" to be settled as part of the compulsory liquidation. The court found no viable takeover offers that met legal criteria, making the closure inevitable.
Source: www.meuble-info.fr