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.
The Frasers Group, the UK-based fashion and sports goods retailer, has announced that it will permanently close 31 out of 80 Jack Wills stores across the UK, making the affected employees redundant with immediate effect. The company has not disclosed the number of job redundancies caused by the closures, however more than 100 employees are likely to be affected.
A spokesperson for the company said that the closures were inevitable due to the high level of uncertainty caused by the Covid-19 pandemic.
The Jack Wills chain, which specialises in fashion for young people, was acquired by Sports Direct International in August 2019 – at that time Jack Wills Limited had 1,800 employees working in 110 shops. Sports Direct International was later renamed as ‘Frasers Group’.
Eurofound (2020), Frasers Group, Closure in United Kingdom, factsheet number 100223, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100223.