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.
Cath Kidston, the British fashion and home accessories retailer has announced that all of its 60 shops in the UK will remain permanently shut when the coronavirus lockdown ends, making 908 jobs redundant with immediate effect. Only 32 people will remain in employment and the company will only engage in wholesale and online trade.
The decision about the shop closures was made soon after the company fell into administration last week. A spokesperson for the administrators said that Cath Kidston had faced financial difficulties for a few years and the COVID-19 lockdown and economic uncertainties had exacerbated the company's problems.
Eurofound (2020), Cath Kidston, Bankruptcy in United Kingdom, factsheet number 100246, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100246.