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.
Celio, the men's ready-to-wear brand has announced a reorganisation that consists of the closure of 102 shops in France, out of 478, due to the COVID-19 crisis. According to the management, 383 jobs will be cut: 344 in-store jobs and 39 in support functions.
The employment safeguard plan (PSE) has been presented to employee representatives. The consultation will last until the first quarter of 2021 and the shops will remain open for the Christmas period, except for a few whose leases are coming to an end. The management undertakes to do its utmost to propose solutions that favour the repositioning of the employees concerned, through internal redeployment measures and personalised support for the construction of external professional projects.
The brand, founded in 1978, has 1,500 shops in 46 countries and 4,200 employees worldwide, including 2,416 in France on 1 October 2020. A previous reorganisation was recorded in 2015, with 45 job cuts.
Eurofound (2020), Celio, Internal restructuring in France, factsheet number 102421, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102421.
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