Food: Flo Group, manager of Hippopotamus in trouble – Boursorama

Food: Flo Group, manager of Hippopotamus in trouble – Boursorama

The front of the Hippopotamus restaurant chain, owned by Flo Group, Paris (AFP / Archives / Jean-Pierre Muller)

Flo, manage pubs and restaurants as Hippopotamus and Tablapizza Group warned on Friday he expected to not be able to meet its commitments took to the banks so that they give him credit.

The restaurant group, which is facing a decline in attendance of some of its restaurants, suffered a net loss of 3 6 million euros in the first nine months of 2014 and had indicated early November expect a difficult year-end.

“Given the results to date Flo Group expects no be able to meet its covenants + + bank at the end of December 2014. The group has therefore met its creditor banks to begin discussions on the development of the credit union, “said a statement.

group said its new CEO, appointed in September, Vincent Lemaitre, presented to banks “a roadmap to restore profitability of the group.”

Flo Group also announced the convening of a general meeting Special December 30, without specifying the agenda.

Finally, Flo Group says it wants to strengthen its management team by appointing from early 2015 a new Deputy Director General in charge of Finance. He did not specify the name of the future manager.

Hippopotamus will be also equipped with a new operational director, Jean-François Valentin, effective December 1, while the former president of Domino’s Pizza France, Melanie Gigon-Farcot will be appointed Executive Director of Tablapizza.

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