Last Saturday, October 17, it began a weekend full of riots in the streets of the main French cities. The reason was the call for a massive demonstration by high school students, who have been demanding from the government for several weeks an improvement in the conditions of educational centers and the salaries of their teachers. However, those known as ‘yellow vests’ and workers from other sectors also decided to join in to protest the high cost of living in the country.
The Minister of the Interior, Lauren Nuñez, expected large mobilizations and possible urban violence, so he decided to authorize the use of stun grenades in the event that the situation led to riots. Despite this, the balance of the weekend ended with approximately 2,400 arrests, police charges and numerous damages both in public buildings, street furniture and even small and large businesses. A situation that has caused the Government to impose night curfews in areas of the main French cities.
In view of the upcoming demonstrations called for this Saturday, October 24, the Government also decided to expand the police and military presence on the streets, deploying the army to support security agents during checkpoints. Everything to prevent them from happening again, among other issues, the looting that affected more than 3,000 businessesboth from individuals and large companies.
Carrefour expects losses of up to 200 million euros
One of the most affected by this episode was the French supermarket chain Carrefour, whose executive director, Alexandre Bompard, denounced the attack on 50 of its stores during the first day of unrest. “Many were looted and the damage is considerable,” he told the Reuters news agency. Likewise, the CEO, Matthieu Malige, predicted close economic losses located between 80 and 200 million euros of income of exploitation.
A result not only caused by the loss of merchandise or damage caused to companies, but also by the closure of approximately 6,000 stores in anticipation of possible looting caused during the demonstrations. Something that has also caused a drop of nearly 15% in the shares, approaching the company’s largest single-day drop. Therefore, the company announced that it would reduce its investment in the country.
For his part, Guillaume Darrasse, the director of another of the large French supermarket chains, Auchan, has also denounced the insecurity that this type of episode generates for both its customers and its employees. An issue that has caused the closure of some of its stores both at the time of the protests and in the days that followed. “A business is not just a window or merchandise. They are women, men and often a life of work. He deserves respect,” he explained in a message.
The looting also affected family businesses
A demand similar to that made by the small businesses affected by the riots. Big companies weren’t the only ones to be looted this past weekend in France; also those family businesses whose owners had put all their savings into them. As in the case of Robiul Hassan, a citizen from Bangladesh who decided to migrate to France and open his own technology store near Place de la République, in Paris.
According to what Hassan reported to “Euronews”, during the riots his establishment was looted by a group of individuals, who also attacked and threatened him, forcing him to leave the premises. “This was my workplace, but now there is nothing left. I haven’t slept since everything happened,” he said. Like him, hundreds of small businesses whose damage threatens to cost millions.
The French Government sought to reform French legislation after the riots and extensive damage caused during the demonstrations in June and July 2023, which stood at 793 million euros according to France Assureurs. Specifically, the measure forces insurers to include this type of situation in the coverage of some insurance policies. However, this reform has not yet come into force, so merchants will depend on the current conditions of their policies.