French retailer GiFi was placed into judicial restructuring on Tuesday, November 3, at the company’s request, according to a decision reviewed by Agence France-Presse. Its stores employ 6,000 people in France, and the group has been facing major financial difficulties.
The Toulouse Commercial Court ordered a six-month observation period and scheduled a hearing for January 8, 2027. The court will consider whether GiFi has sufficient financial capacity to continue operating and whether the observation period should remain in place.
GiFi’s new president of the executive board, Patrick Puy, said the procedure would not in itself have an immediate impact on jobs and would not trigger a new employment-protection plan. Puy, whose appointment was announced in mid-October, said the company sought restructuring to protect the business and continue its activity.
The group’s difficulties followed a failed IT system change in 2023 that disrupted stock management. GiFi also faced pressure from other low-price retailers, including Action and Maxi Bazar, as well as online platforms such as Temu and AliExpress. Its sales had previously been hit by temporary store closures during the Covid crisis.
In 2025, GiFi considered cutting its workforce by 5% but later halted the plan. It has since moved to transfer around 30 stores to food retailer Grand Frais. The chain, founded by Philippe Ginestet in 1981, operates more than 500 stores.
Sources: Le Monde Économie.