Paris (AFP)
The DIY brands Castorama and Brico Dépôt have obtained a loan of 600 million euros guaranteed by the French State to cope with the consequences of the Covid-19 epidemic, according to a decree published Tuesday in the Official Journal (JO).
"The State guarantee is granted to BNP Paribas, Crédit Agricole Corporate and Investment Bank and Crédit Lyonnais establishments for the loan (...) granted to Castorama France SAS and Brico Dépôt SAS", two brands of the Kingfisher group, and d 'an amount of 600 million euros, says the text.
The two brands of the British group operate more than 200 stores in France, employing around 18,000 people.
Shortly after the containment of the population in France and the compulsory closure of non-essential businesses in mid-March, the government committed to guarantee up to 300 billion euros in business loans. For large companies with more than 1.5 billion euros in turnover, these loans are 70% or 80% covered.
The device was inaugurated in mid-April by Fnac Darty who had obtained 500 million euros (70% guaranteed by the State) from several banks to help it pass the course of the Covid-19 epidemic.
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