Gifi Announces 302 Job Cuts and Closure of 11 Stores in France

The discount retailer restructures to address financial losses, streamline operations, and refocus on its core business model.

Gifi is cutting 302 jobs, representing 5% of its workforce, and closing 11 of its 570 stores across France.
The closures will affect 116 employees at the stores and 186 staff members at the company's headquarters in Villeneuve-sur-Lot.
The restructuring plan aims to improve financial performance and strengthen Gifi's discount retail model in response to mounting competition from rivals like Action and online platforms such as Temu.
The affected stores are located in cities including Lyon, Thiais, Stains, Toulouse, and Besançon, among others.
This move follows Gifi's January 2025 financial support package, which included debt relief and governance changes, with founder Philippe Ginestet stepping back from operational control.