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.
Orsay GmbH, German clothes retail brand, closes its stores. Beginning from July 2022, the company is going to permanently withdraw from the Polish market. In effect, all of 130 stores will be closed and approximately 400 employees dismissed. As company claims, the workers already received information on upcoming termination of all employment contracts. The process takes place due to insolvency of Ordipol group, the Polish Orsay stores' owner.
This closure ends the 25 years period of Orsay's presence in the Polish market. The first store was opened in Polish town Czeladź in 1997. Recently, mainly due to the impact of COVID-19 pandemic, the company struggled to maintain retail on satysfying level. As a result of such problems, the leaders of the company decided to close 30 stores in Poland already in 2021.
Eurofound (2022), Orsay, Closure in Poland, factsheet number 106801, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/106801.
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