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.
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.
Eurofound (2020), PWT Group, Closure in Denmark, factsheet number 101164, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101164.