After the Gifi group was placed in receivership, the 6,000 employees are worried

This text corresponds to part of the transcription of the report above. Click on the video to watch it in full. In front of a Gifi store, regulars are worried about the future of the brand which has just been placed in receivership on Tuesday November 3.

“There are products that you can't find elsewhere. It's a shame that they're disappearing, maybe they simply have to increase the price,” comments one of them. “There are plenty of things at quite competitive prices, so it’s relatively good for everyone and any budget.

It's important and it's a shame that these stores are closing," adds another customer. "It's sad for people who want to work, who have work and unfortunately who are going to lose everything," adds a woman. In Villeneuve-sur-Lot (Lot-et-Garonne) where the first store was founded by Philippe Ginestet, the news also saddens customers.

“He started on his own, he was the one who created this, a few years ago, starting with a small business, and which grew. It’s a shame that today, this business is in difficulty,” says one man. Gifi is losing its appeal with the arrival of competitors. Founded in 1981, the brand with brilliant ideas quickly became a reference.

It offers a wide selection of home products, decorations and toys. The brand is a hit and opens 500 stores in France. But over time, new competitors, like Action or Temu, come into play.

The brand is losing appeal. In 2025, around ten stores will close their doors. Gifi fails to redress the situation.

With sales falling during the summer and a lack of cash flow for the brand, Franck Virlorgeux, FO union representative for GiFi, fears for the group's 6,000 jobs. "We've had a lot of presidencies, we've had four plus one as interim. We're going to find ourselves in a situation where if there is anything, it could be economic layoffs but we don't know any more," he fears.

Around thirty stores were sold to the Grand Frais brand. The court orders a six-month observation period for the French group Gifi.

Machine-translated from French