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 Buzz Group, the British company which runs 'Buzz Bingo', the UK's largest bingo club chain, has announced plans to permanently close 26 of its 117 clubs across the UK, making 573 jobs redundant.
The company’s chief executive officer said that the COVID-19 pandemic had 'significant impact' on the business and the proposed restructure was necessary to protect its future. All Buzz Bingo clubs have been closed since March, when the lockdown restrictions were introduced in the UK.
In addition to the chain of bingo clubs, the Buzz Group runs online bingo and casino games, and employs 3,400 people (before restructuring).
Eurofound (2020), Buzz Group, Closure in United Kingdom, factsheet number 101567, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101567.