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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Edison Investment Research
Provider: GlobalData

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Bricorama SA Announces Court's Decision to Close 32 Stores on Sunday-Le Figaro

Wednesday, 31 Oct 2012 08:00pm EDT 

Le Figaro reported that Bricorama SA has been told by the Court's decision to close its 32 stores in Paris on Sunday. The Company threatens to cut 500 jobs. It also risks a fine of EUR 18.1 million. The Versailles Court of Appeal on October 31, 2012 ruled guilty the Company of the illegal opening of 32 stores in the Ile-de-France region confirming the decision of the Pontoise High Court made in January 2012. Sores will be closed on Sunday as from November 4, 2012 which will result in the loss of revenue as each store's sales generated on Sunday were of approximately 15%. Moreover, the Company may also pay a fine of EUR 30,000 per Sunday and per store opened without authorization since the entry into force of the Maille law on work on Sunday. The total could reach EUR 18.145 million. The amount of the fine should be known early December 2012. 

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