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.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Other Goods In Specialised Stores 47.71 - Retail sale of clothing in specialised stores
180 jobs Number of planned job losses
Announcement Date
25 May 2020
Employment effect (start)
25 May 2020
Foreseen end date
25 May 2020
Description
PWT Group, which owns the Tøjeksperten and Wagner shop chains, has laid off 180 employees and closed 20 shops due to the Corona-crisis. Tøjeksperten is the largest chain of shops for mens clothing in Denmark. The company is doing a large restructuring and closing shops and dismissing employees to survive the economic crisis brought about by the corona-crisis. The restructuring was acknowledged by creditors and investors during a meeting before the announcement. The closing of shops during lock down has affected the finances of the company severely. The Norwegian part of the company, Wagno, has been declared bankrupt. PWT Group is owned by the private equity fund Polaris.
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