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.
As announced on 19 May 2020, the US chain Foot Locker has decided to shut down its subsidiary Runners Point, which will result in the loss of approximately 700 jobs in Germany. Foot Locker did not mention specific reasons for Runners Point's closure. According to a spokesperson, the decision comes after an evaluation of the business performance in Germany within the last 12 months. The closure will affect all 73 stores and approximately 700 employees.
There is no information on a timeframe available, however, a lawyer for the works council expects that operations will be seized as soon as possible. Negotiations regarding a social plan will start shortly.
Eurofound (2020), Runners Point, Closure in Germany, factsheet number 101193, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101193.