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.
Debenhams a department store retailer, announced the permanent closure of all its 11 Irish stores, affecting 1,000 employees, who were in temporarily lay-off status, and 500 indirect jobs. The company is going into liquidation after suffering financial uncertainty for the past year due to customers shifting to online shopping; the COVID-19 pandemic has pushed the decision to close the stores in Ireland while 142 stores in the UK have also been put under administration.
The Mandate Union commented that although workers knew the company situation was difficult the announcement came as a surprise. The union will seek to maintain the stores open and to explore possibilities of rent reductions for the store locations.
Eurofound (2020), Debenhams, Bankruptcy in Ireland, factsheet number 100288, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100288.