The gross operating surplus, expected at 9 million euros for 2025, came out negative, at -100 million euros in 2025, according to the court. All of these factors sent the finances plunging into the abyss. The Toulouse commercial court placed the Gifi group in receivership and ordered a six-month observation period for the low-price everyday products retailer, founded in 1981.
The group had nonetheless multiplied attempts to clean up its finances, with judicial conciliation procedures to renegotiate its debt. Gifi has also undertaken to sell 32 of its 500 stores to the Grand Frais banner, a deal already effective in about twenty stores.
Gifi appointed a new chief executive four times in two years. The latest appointment dates back to October, with the arrival of Patrick Puy, a specialist in the restructuring of large groups, who notably led the dismantling of Vivarte.
The retailer employs 6,000 people in France. The group, already weakened, also suffered from wavering management. In 2025, the retailer had even decided to cut its workforce by 5%, before interrupting this social plan.