Printemps, the French department store, is now nearing completion of its sale to Qatari investors, The projected deadline is as early as this summer with the timetable for the deal now being prepared for the staff.
The upscale store and tourist hotspot has been targeted for acquisition by Maurizio Borletti and a Qatari consortium. Another group wanting to purchase the store is French retailer Galeries Lafayette.
In a statement, Bernard Demarcq, Sec-Gen of the UGICT-CGT trade union to Reuters, "A first presentation meeting has been set for April 5 and there will be two other meetings on April 19 and on April 25." Demarcq spoke to the paper after the management group of Printemps met with employee representatives to decide on a timetable for the staff consideration.
No specific details were discussed on the offer made for Printemps but the main worry of Demarcq were the possible job cuts after the transfer.
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