The conciliatory discussions with creditors have yielded a mixed response. Unlike the Quatrim bonds (secured), the holders of CGP’s Senior Unsecured Notes (due 2026 and 2027) and the bonds issued by Monoprix Exploitation did not agree to the request to waive the right to claim accelerated payment in case of default. Casino has also drew down in full the RCF on 30 June 2023. This is likely to fuel further panic amongst stakeholders.
