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Carrefour shares have plummeted to their lowest level since November 2020 following reports of a potential record fine. The French government has requested a court to impose a €200 million ($215 million) fine on Carrefour over the management of its franchise network, La Lettre reports. The finance ministry claims that Carrefour's contracts with franchise stores were unbalanced in the retailer's favor, violating the French Commercial Code. This fine request comes after a probe by the finance ministry found several companies within the Carrefour group engaging in practices contrary to the code.
Supermarket group Carrefour is facing a 'record' $215 million fine request following a probe by the France’s finance ministry that found several companies in the group engaging in practices contrary to the French Commercial Code https://t.co/zNwL1NytXS https://t.co/jJJaHzdpfl
WATCH: Supermarket group Carrefour is facing a 'record' $215 million fine request following a probe by the France’s finance ministry that found several companies in the group engaging in practices contrary to the French Commercial Code https://t.co/08kI5ozshi https://t.co/AEY6BuPfv2
France’s finance ministry has asked a court to fine Carrefour a recommended $215 million over contracts with franchise stores that, the ministry says, were unbalanced in the retailer's favour https://t.co/zNwL1Nz1Nq https://t.co/UoMw9Jc4LP