The Lagardère group obtains a loan guaranteed by the State of 465 million euros

The group, led by Arnaud Lagardère, owns the publisher Hachette, boutiques Relay or the media Europe 1, “Paris Match” and “Le Journal du dimanche”.

The State at the bedside of the Lagardère group. The company, whose turnover is battered by the Covid-19 epidemic and contested governance, has been granted a state guaranteed loan of 465 million euros, according to the Official Journal published on Sunday January 3.

The group, led by Arnaud Lagardère and owner of the publisher Hachette, the Relay boutiques and the Europe 1 media, Paris Match and The Sunday newspaper, had recorded in the third quarter a turnover down 38%, to 1.2 billion euros.

The revenues of the distribution branch in stations and airports (Relay shops and duty free) notably collapsed by 66%, to 393 million euros, after having already fallen by 55% in the first half. The loans guaranteed by the State make it possible to facilitate the granting of a loan to a company having cash flow difficulties. In the event of non-repayment, the State undertakes to bear the bulk of the rest of the credit to be repaid, in this case 80%.

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