The department store located 44 avenue Jean Médecin (10,500 square meters on six levels) will be taken over by the FNAC mainly and the Galeries Lafayette (textile), after a year of works.
The FNAC will take over the department store occupied previously by Marks & Spencer on the avenue Jean Médecin in Nice. It will take most of the store but an extension of the Galeries Lafayette is also planned in this building (textile department). The Galeries Lafayette, which have taken over the overall of the 19 French sites about ten days ago from the English distribution group didn't give any precise allocation until now for this department store in Nice. It was only announced that the Galeries Lafayette group would directly use the three Parisian sites (Haussmann and Scribe under the name of the Galeries Lafayette and Rivoli under the one of Monoprix) and three stores in the province (Bordeaux, Strasbourg et Marseille). At the same time, it was said that the Swedish H & M would take over the stores in Nantes, Reims and Lille, but nothing for Toulouse and Nice.
Yesterday morning, the names of buyers of these two sites were revealed to the employees. In Toulouse, it is Virgin Megastore (Lagardère Media group) which will replace Marks & Spencer. In Nice, it is then the FNAC with the Galeries, which will take over the building, 44 avenue Jean Médecin (10.500 sq. meters on six levels). However, the share of space index between the two was not mentioned.
Everybody knew that in Nice, the FNAC was planning to grow since long. They had one more reason to do it fast now since Virgin Megastore, which is now part of Lagardère Media with Extrapole, will establish its big store in the former buildings of the Crédit Lyonnais. The FNAC already owned a store that was too small in Nice Etoile shopping centre and will now have to face a competitor in its area. Marks & Spencer's building, which should be closed for repairs for a year from January 1st 2002 (Marks will close on December 31st 2001), will bring more space and a better visibility.
The 82 employees of Nice from Marks & Spencer, such as the employees working on the other French sites, will have to give their opinion on the take-over plan before November 30th. The employees of Nice will have to choose between Galeries Lafayette and FNAC and will be trained for their new job during the year of works. The others can benefit from a social plan. However, worries remain concerning the level of salary for their new job in one or the other store.