GiFi faces possible bankruptcy as new manager seeks court protection

GiFi, a French discount décor chain, is said to be nearing financial collapse under the leadership of restructuring expert Patrick Puy, who took charge in mid-October. During an emergency meeting of its social and economic committee, employees were informed that the firm will petition the Toulouse commercial court for a possible judicial recovery filing. The retailer, which runs more than five hundred outlets, has been hit hard by intense competition from Chinese e-commerce players and the French discount chain Action.

Its difficulties were amplified after a disorderly migration of its entire information system in June 2023, which severely impaired inventory control following the COVID-19 downturn. These challenges have led to a sharp decline in sales and raised concerns about the future of its workforce.