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GIFI’s Founder Philippe Ginestet Seeks Buyer Amid Financial Troubles

Philippe Ginestet, founder of GIFI, faces significant challenges as the company struggles with the aftermath of a major IT failure. The 27th richest person in France is now seeking a buyer for his stores, which have 6,500 employees and over 700 locations. Despite resolving some IT issues and preparing for the holiday season, the company is in a precarious situation, leaving employees uncertain about its future ownership amid changing market conditions.

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