VSIs information from François Lenglet, economic columnist on RTL, who quotes the research firm Mc Kinsey. Naf-Naf, Orchestra, Alinéa, La Halle, Conforama and to a lesser extent Castorama could already disappear from the Loire market.
Some brands have been placed in recovery recently, with fears for the future of employees. 1,170 people for Naf-Naf, 6,000 people for the Halle, 2,000 for Alinéa. 600 posts threatened for Orchestra.
It’s no surprise: these marks were already alive before confinement. But the sword of Damocles fell. Internet competition, SNCF strike, yellow vests, then confinement.
As for the future, Alinéa offers two options: filing a continuation plan or calling on buyers. Two takeover offers for Naf-Naf, including one that would maintain 923 employees and 118 stores. Concerning La Halle, takeover projects are awaited. Orchestra is currently in receivership. Note that an opening to Steel was planned for the latter.
A reprieve for Castorama and Brico Dépôt?
With Fnac-Darty, Air France, the King Fischer group which owns Castorama and Brico Dépôt obtained a state guarantee for a loan of 600 million euros. This can save them, despite a turnover down 41.5% in the first quarter of 2020.
Why haven’t other brands benefited from it? Because they were not in good enough health before confinement.
Concern for Conforama
With Alinéa, another big furniture chain is in danger of disappearing: Conforama. Banks are holding back iron for a loan, again guaranteed by the state. Only a few stores have reopened, but that is not enough. Aim was proposed to take over the group, recovery considered grotesque at Conforama. In any case, without this loan, the bankruptcy filing is certain.