Fnac on the Champs-Élysées, “heavily in deficit”, will close its doors at the end of the year

The Fnac store located on the prestigious Avenue des Champs-Elysées in Paris, "heavily loss-making", will close its doors at the end of the year without impact on employment, the Fnac Darty group said on Thursday, confirming information from the magazine Challenges. “The plan to close the store at the end of this year 2024 is the only economically reasonable and socially responsible decision,” assured the group in a press release to AFP, stressing that this point of sale had been “heavily in deficit for many years. years". “Job maintenance” is “100% guaranteed,” he added.

The 101 employees of the store will be offered “a position offer identical to the one occupied, under the same salary conditions, within another Fnac store in Paris (Ternes, Saint-Lazare, Forum des Halles, Montparnasse, Beaugrenelle)” , said the group again. According to Fnac Darty, the store located at 74 avenue des Champs-Élysées was faced with “multiple difficulties”, notably the “generalized increase in fixed charges”, starting with the rent, and a drop in sales “due to 'a diminishing use of the area by the brand's natural clientele'.

The group in fact considered the prospects “unfavorable”, with “the increasingly marked orientation of the avenue towards luxury retail and international customers”. Fnac Darty came out of the red in 2023 with a net profit of 50 million euros (compared to 32 million losses in 2022), on a turnover of 7.87 billion euros (-0.9%). The group says it employs 25,000 people in just over a thousand stores, located in a dozen countries.