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 Lyon has decided to liquidate the company Place du Marché, which has 1,600 employees, and its two sister companies, the Eismann brand and the logistics company Touparlog, which employ 300 people. In total, 1,900 jobs have been cut, making it the third largest collective redundancy in the last two years, along with Camaïeu (2,700 jobs) (FR-Camaïeu-2022) and Scopelec (1,200 jobs out of 2,300) (FR-Scopelec-2022). In France, Place du Marché is the leader in home delivery of frozen food products, with 110 branches throughout the country and three order preparation platforms in Argentan (Orne), Montauban and Chalon-sur-Saône (Saône-et-Loire), with a main office located in Civrieux-d'Azergues, near Lyon (Rhône). The company had applied for a safeguard procedure in October, before being forced into receivership a month later. It lost regular customers after the Covid-19 crisis due to late deliveries, and those gained during the crisis eventually went back to shopping in supermarkets. In addition, the company did not manage to perform digitalisation of its services on time and has been handling many orders by telephone only. Turnover fell from €217 million in 2017 to €200 million in 2022. The employees, with the support of the trade unions, are fighting for a redundancy payment above the legal minimum.
Eurofound (2023), Place du marché, Bankruptcy in France, factsheet number 108181, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108181.