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 29 September 2020, the German bakery chain Sternenbäck will be closing 45 of its 215 branches which will affect 220 employees until the end of the year due to internal restructuring. According to Sternenbäck, a lack of sales during the COVID-19 crisis, makes this step inevitable to secure the bakery’s future. Mainly affected will be employees in sales, production and administration. Sternenbäck has branches mainly in Baden-Württemberg and East Germany.
Currently, Sternbäck has 1,600 employees in Germany.
Eurofound (2020), Sternenbäck, Closure in Germany, factsheet number 102012, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102012.