A significant conflict is developing between Daniel Kretinsky, the principal shareholder of Casino, and the holders of its debt, primarily the funds Monarch and Attestor. Kretinsky, who owns 53% of the retailer, is attempting to bolster his stake in the company through a new debt restructuring plan. The current debt of €1.4 billion, due in March 2027, poses a threat as Kretinsky and the company's financial performance raises concerns about repayment and refinancing options. Despite offers from French banks and bondholders for a potential write-off in exchange for recapitalization, agreement remains elusive due to stark differences in positions among all parties involved.