Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Dixons Carphone, the UK-based multinational electrical and telecommunications retailer has announced that it is closing all its 531 Carphone Warehouse shops, which specialise in selling mobile phones. The shops will close on 3 April 2020, making 2,900 jobs redundant. Another 1,800 workers who are affected by the store closures will be transferred to mobile phone outlets within large electrical stores.
The CEO said that the decision was not influenced by the Covid-19 pandemic, rather, it was the next step in restructuring the business as part of an existing strategy. However, he added that the coronavirus outbreak and the uncertain economic outlook had made the decision more urgent.
Dixons Carphone operates under several brand names, such as Currys and PC World in the UK, Ireland and in other European countries.
Eurofound (2020), Dixons Carphone, Closure in United Kingdom, factsheet number 100134, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100134.