HSBC's Exit:

HSBC has finalized its exit from the French retail banking market. The bank sold its subsidiary, Crédit Commercial de France (CCF), to My Money Group, which is backed by Cerberus Capital Management. The transaction, initially announced in 2021, faced delays but was completed on January 1, 2024. The revised terms included a €225 million investment from Cerberus and HSBC retaining a €7 billion portfolio of loans​ (CityAM)​.

ING's Exit:

ING announced its decision to leave the French retail banking market as part of its strategy to focus on core markets. This move is part of a broader trend among international banks to streamline operations and focus on more profitable regions​ (FinTech Futures)​.

Duror Fashion Group Bankruptcy:

Duror Fashion Group, the parent company of brands such as Terre Bleue, Gigue, and Zilton, has filed for bankruptcy. This was primarily due to its inability to repay pandemic-related loans. As a result, 29 stores will close, and 150 employees will lose their jobs​ (RetailDetail EU)​.

Mango's Expansion: