Casino, Guichard-Perrachon S.A.

Casino’s Chapter 15 case was closed on June 4, 2024, by the closing order Dkt. 29, following March 27, 2024 effectiveness of its French restructuring, documented in the final report Dkt. 25. The closing order preserved U.S. recognition of the French plans and cancelled the September 26, 2024 status conference, completing the U.S. recognition proceeding.

Casino, Guichard-Perrachon S.A.’s Chapter 15 case was closed on June 4, 2024, under the closing order Dkt. 29. The order preserved all prior orders, including recognition of the French restructuring, and cancelled the September 26, 2024 status conference.

The French food retailer sought U.S. recognition through its February 15, 2024 petition Dkt. 1. Its restructuring followed deteriorating financial performance and mounting indebtedness in an adverse economic environment since 2022. As described in the foreign representative’s declaration Dkt. 6, negotiations with investors and creditors led to accelerated safeguard proceedings opened by the Paris Commercial Court on October 25, 2023.

The French court approved the accelerated safeguard plans on February 26, 2024, according to the final report Dkt. 25. The U.S. court’s March 14, 2024 recognition order Dkt. 15 recognized the French proceedings as foreign main proceedings and gave the plans and related French orders full force and effect in the United States, including protections against enforcement of debt cancelled or restructured under the plans.

The restructuring provided for €1.2 billion of new equity—€925 million from the investor consortium and a €275 million backstopped capital increase—alongside secured and unsecured debt conversions, as outlined in the foreign representative’s declaration Dkt. 6. The April 26, 2024 final report Dkt. 25 confirmed completion of the capital increases and debt conversions and plan effectiveness on March 27, 2024. Its attached announcement reported that control transferred to France Retail Holdings S.à.r.l., ultimately controlled by Daniel Křetínský. Those completed transactions supplied the basis for the foreign representative’s request to close the U.S. cases.