Belgian retailer GIB SA revealed earlier today [Wednesday] that it is preparing to hold a company vote on 19 June over whether it should go into liquidation.

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GIB spokesman Emmanuel De Brouwer admitted to Dow Jones that liquidation is expected because “GIB has already sold its main operational assets so there is no economic reason anymore to maintain the group as a listed company”.


These asset sales included GIB’s holding in French supermarket giant Carrefour. Proceeds from the sale of its remaining assets, including a 57.8% stake in fastfood chain Quick Restaurants and the fully owned restaurant chain Lunch Garden/Crock’in, would leave GIB with between €1.15bn (US$1.02bn) and €1.4bn to be redistributed to shareholders.

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