Gifi announces the elimination of 300 jobs and the closure of 11 stores as part of a major restructuring

Facing financial difficulties, the Gifi store chain revealed on April 3rd a job preservation plan that will result in the elimination of 300 positions, or 5% of its workforce. This plan also includes the closure of 11 of its 570 stores, directly affecting 116 employees, while 186 other positions will be cut at its headquarters in Villeneuve-sur-Lot, in Lot-et-Garonne.

The group, which employs 6,000 people in France, had already announced in January that it had secured financial support from its banks as part of a restructuring aimed at restoring stability. In addition to increasing competition from chains like Action and Maxibazar, as well as online giants such as Temu, Gifi’s operations were disrupted by a reorganization of its IT system in 2023. With a turnover of 1.2 billion euros in 2024, the group reported losses for the second consecutive year, an unprecedented situation since its inception.