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 Commercial Court of Paris has ordered the liquidation of the children's fashion group Kidiliz and the partial takeover of its activities resulting in the redundancy 900 to 1,000 employees. The activity is being acquired by seven different buyers who will save 497 of its 2,600 jobs worldwide, including 356 positions in France, that is less than 30% out of the 1,250 permanent contracts in the country.
Already fragile before the Covid-19 crisis, Kidiliz was placed in receivership in September 2020. This court ruling follows the closure of Catimini and Z shops throughout France and the Saint-Chamond (160 employees, Loire) site. Kidiliz was hit hard by the administrative closure of its shops during the first lockdown, from mid-March to mid-May. The drop in activity is very significant: €260 million in sales expected in 2020, compared with €388 million in 2019.
Eurofound (2020), Kidiliz, Merger/Acquisition in France, factsheet number 102698, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102698.
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