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The State supports Fnac-Darty

INFO LE FIGARO – The distributor benefits from the public guarantee on a bank loan of 500 million euros. A first for a large group.

Enrique Martinez, CEO of Fnac-Darty.
Enrique Martinez, CEO of Fnac-Darty. AFP

Since mid-March, Fnac-Darty has had to lower the curtain on all its stores. In France, in Belgium, in Spain, the distributor found himself overnight closed door and with, therefore, a big potential problem of cash before him.

Suffice to say that the distributor was an ideal “client” for the public guarantee scheme for bank loans set up in the amending finance law of 23 March. “We were the pioneers”, explains to Le Figaro Enrique Martinez, the group’s general manager. Fnac-Darty indeed concluded on Saturday April 19 the first “State guaranteed loan” (PGE) in the heavyweight category, those of companies with more than 5 billion euros in turnover. “This shows our agility,” says the boss of the group.

The “pool” of banks coordinated by Crédit Agricole – Arkéa, BNP Paribas, Bred, CIC, Crédit Agricole CIB, La Banque Postale, LCL, Natixis CIB and Société Générale – therefore grants a credit of 500 million

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