MR.DIY will sell or close all of its stores held its own in France – Le Figaro

(AOF) – Mr.Diy, the listing of which has been suspended since this morning, has just presented its strategic plan Rebound. It will include the assignment to the members-entrepreneurs of the 87 stores that it holds in own in the Hexagon, it is expected that a thirty shops will be transferred in the state within two years. Thirty others will be the object of investment (€13 million) intended to maintain their activity prior to their assignment, and 17 shops in a situation “critical,” will be closed power in 2017.

These closures would involve the removal of 238 positions on the 2 507 that the group and the 10 000 employees of the network. “Mr. Diy SA intends to conduct an in-depth social dialogue with staff representatives and will make every effort to propose solutions to promote the professional repositioning of the employees concerned within Mr. Diy or realizing a new professional project outside the Group”, said the release.

provisions and losses, net of taxes, related to the redefinition of the commercial offer and the restructuring, which will include exceptional charges of personnel and write-downs of goodwill and inventories intended to prepare the transfer of own stores and to optimize the layout of the store to accommodate the new product offering, are estimated to be around 65 million euros. These provisions will therefore affect the results 2016 of the group.

the resizing of The fleet of stores will give Mr.Diy the margins of manoeuvre to invest, develop its business and its profitability. From the second half of 2017, the freed resources will be reallocated in priority to the benefit of business development Services to the group’s networks and the return to the sustainable competitiveness of integrated stores from the perspective of their assignment to the members-entrepreneurs.

The listing of the action Mr.Diy will resume tomorrow, Thursday, November 17, at the opening of the markets.

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