French supermarkets group Casino said that the Paris commerce court had extended a protection procedure it had entered into in October to help finalise a deal to restructure its debt by a further two months.Ĭasino, which has issued two recent profit warnings due to a worsening situation at its hypermarkets, is racing to finalise a bailout to avoid bankruptcy early next year.Ī new leadership team formed around Czech billionaire Daniel Kretinsky is set to take control of France's seventh-largest supermarket group by market share, which was brought to the verge of default after years of debt-fuelled acquisitions and recent losses in market share to rivals.Ĭasino said last month it had received preliminary, indicative offers from several buyers for an unspecified number of hypermarkets and supermarkets it had put up for sale.įrench rivals Auchan and Intermarché have made a joint offer for all the stores Casino wants to sell, while Leclerc and Germany's Lidl were also among those interested, sources said. PARIS, Dec 11 (Reuters) - French supermarkets group Casino (CASP.PA) said on Monday that the Paris commerce court had extended a protection procedure it had entered into in October to help.
