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.
After tough negotiations with the union GPA-djp, textile retailer Huber finally settled on 80 job cuts. Initially, the company planned to cut 123 positions. The retailer is currently undergoing a restructuring procedure, after filling for insolvency. In May 2020, the company could not pay out the monthly salaries, one of the measures put in place to support employees was to provide receive debt advice services.
Huber runs 63 stores all over Austria. At the moment, it is unclear how many of them will be shut down.
The Huber Holding AG is fully owned by the Chinese Benger Brands. Huber has a total of 900 employees worldwide, 450 of them in Austria.
Eurofound (2020), Huber , Bankruptcy in Austria, factsheet number 101192, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101192.