Overview
- Mayor Anne Hidalgo secured adoption of an executive motion authorizing the city to prepare for a purchase of the BHV Marais property should it come to market.
- The municipality sketches a mixed-use concept with affordable and social housing plus local services while keeping retail, but no financing package is finalized for an acquisition estimated at €300–400 million.
- A Galeries Lafayette spokesperson said exclusivity with Frédéric Merlin’s Société des grands magasins ends on 19 December, after which the group will consider all options.
- SGM says its buyout plan is progressing with foreign investment funds as potential backers, yet it must submit a firm dossier by the deadline to keep its bid alive.
- Unions representing roughly 750 employees warn the latest moves heighten uncertainty for jobs, as the Shein store’s arrival sparked brand departures and strained supplier relations.