2023-11-10 13:54:00
The Galeries Lafayette group has definitively sold the Bazar de l’hôtel de ville (BHV) of Paris to the small real estate company of Lyon origin Société des grand stores (SGM), with which negotiations had been underway since February, according to a press release on Friday . The Galeries Lafayette group announced “having finalized the sale of BHV Marais to the SGM group”, after “having obtained the approval of the competent regulatory authorities”, in a press release on Friday. “The Parly 2 store is also affected by this operation,” said the seller. This is a BHV store located in the Westfield Parly 2 shopping center in Yvelines, near Versailles.
Financial terms of the deal were not disclosed. The BHV has been in difficulty for years, further aggravated recently, according to the store’s management, by traffic difficulties on Rue de Rivoli, where the BHV is located. The department store had also been hit hard by the Covid-19 epidemic, reducing the flow of tourists and workers in the capital’s city center.
Preserve “the DNA and values of BHV”
The buyer, SGM, is a commercial real estate company founded by Frédéric and Maryline Merlin, young thirty-somethings and brother and sister. At the end of 2021, they had already bought seven regional stores from Galeries Lafayette, in Angers, Dijon, Grenoble, Le Mans, Limoges, Orléans and Reims. SGM, which specializes in the rehabilitation of city center commercial assets in decline, also operates around ten city center shopping centers in France, in Roubaix, Tourcoing and Châlons-en-Champagne. , in Lille, in Nîmes, in Saint-Nazaire, in Kremlin-Bicêtre, in Mulhouse and in Montigny-le-Bretonneux.
“After having owned it for thirty years, the Galeries Lafayette group is convinced that the SGM group will be the most committed and innovative player to continue to grow the potential of these two department stores with the help of their teams,” indicates he said in his press release. Also quoted, Frédéric Merlin indicates that he wants to “work in depth with all employees in order to continue the growth of this prestigious store, and that of Parly 2, while preserving the DNA and values of BHV”.
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