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 Verywear clothing sales group, which owns the Devianne and Julie & Co brands, announced its placement in receivership and a judicial reorganisation with 109 job cuts. Verywear was unable to withstand the containment difficulties linked to the COVID-19 crisis on top of existing challenges. The group is going to abandon the Julie & Co brand and discontinue six of its own brands. Jobs should be cut across the entire group, including around 20 positions at the head office in Wasquehal, near Roubaix (Nord).
The group, more than 100 years old, employed 683 people and had a turnover of €107 million.
Eurofound (2020), Groupe VeryWear, Bankruptcy in France, factsheet number 101080, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101080.