French retailer Auchan has said it is fully co-operating with French justice authorities over a probe into the practices of its Russian arm.
“Auchan is a victim in the case and reserves the right to join the case as a civil party. The inquiry aims to clarify certain facts within the Russian subsidiary of Auchan but is not directed against Auchan itself,” the company said.
French magazine Challenges and the Financial Times earlier reported a French financial prosecutor had opened the probe. The prosecutor’s department did not immediately respond to a request for comment.
French retail giant Auchan has confirmed that it is fully cooperating with French justice authorities over a probe into the practices of its Russian subsidiary.
The retailer stated that it is a victim in the case, and reserves the right to join the case as a civil party. The inquiry aims to clarify certain facts within the Russian subsidiary of Auchan, but is not directed against Auchan itself.
The investigation was first reported by French magazine Challenges and the Financial Times, who stated that a French financial prosecutor had opened the probe. However, the prosecutor’s department has not yet responded to requests for comment.
Auchan is one of the largest retail chains in the world, with over 3,500 stores across 17 countries. The company has been actively expanding in Russia since the 2000s, and currently operates around 300 stores in the country.
The probe into Auchan’s Russian subsidiary is part of a wider crackdown on corruption and illegal business practices in Russia. In recent years, the Russian government has been taking a tougher stance on corporate wrongdoing, with a number of high-profile investigations and prosecutions.
This latest probe is likely to cause some concern for Auchan, but the company has stated that it is committed to working with the authorities to resolve any issues.
The retailer is known for its strong ethical standards, and has implemented a number of measures to ensure that its business practices are transparent and ethical.
Despite the ongoing investigation, Auchan remains committed to its operations in Russia. The company has stated that it is confident that its business practices in the country are in line with local laws and regulations, and that it will continue to work closely with the authorities to ensure that it operates in a responsible and ethical manner.