“Let's stop criticizing our banks!”

More than ten years after the subprime mortgage crisis, all the light has not been shed, and yet the idea of ​​the guilt of the banks has taken hold firmly in people's minds. They are even blamed for the double fault, since after playing with fire and triggering the crisis, they allegedly asked for help from the States. This unanimous condemnation, the result of incomplete analyzes, is a heavy component of the bank bashing that has raged since then and unfortunately works against our interests. We are indeed at a critical moment when Europe, faced with the domination of American finance and the dollar, must develop its own financial capacities. The development of a strong pan-European financial sector is therefore essential if we particularly want to foster the emergence of future European gafas. 
If it is vain to hope for the complete disappearance of this bank bashing and, one might say, of the bashing market whose roots plunge both in history and in ignor…

Towards an alliance between But and Conforama?

This solution is currently under study. Close to cessation of payment, Conforama is still waiting for its state guaranteed loan to be granted.

Towards an alliance between But and Conforama?

Conforama is in great financial difficulty. Several solutions are currently being considered to save the furniture brand, which employs 9,000 workers. According to information from the Parisian, the Interministerial Committee for Industrial Restructuring (CIRI) was actively working on this case in order to successfully preserve employment and the sector. And among the solutions envisaged, a merger between Conforama and But would be under study, as had been the case in 2016 between Fnac and Darty.

The two furniture brands would thus remain autonomous, but would have the same shareholder. Contacted by Le Parisien, the CEO of But, Alexandre Falck neither denied nor confirmed this information. "If we were to study a project, the priority for us would be to preserve employment at Conforama and But, but also with our French suppliers. We are traders, our obsession would be to develop the two brands. We are willing to study all options to protect the furniture industry, "he said.

200 to 300 million euros on the table

Still according to information from the Parisian, the shareholders of But, the Austrian furniture group Lutz and the investment fund CD & R, would be ready to put their hands in their pocket, for 200 to 300 million euros, to ensure Conforama's short term deadlines.

Earlier this week, the company's general manager had sounded the alarm, indicating that there were "only a few weeks of cash left". On Saturday, the unions had put on a layer, denouncing the inertia of the banks faced with the request for a loan guaranteed by the State formulated by Conforama. "Without a guaranteed loan, Conforama risks being delivered to a rapacious buyer who will hasten to slice our business," worried Force Ouvrière.