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.
Retailer Argos is to close all of its 34 stores and operations in the Republic of Ireland at the end of June 2023 with the loss of 580 jobs. The company will begin the process of gradually winding down its Irish business, with the first stores believed to begin closing from announcement date. The company has said it arrived at the decision following a review of its business and operations in the country, deciding the investment required to modernise in Ireland would have a larger impact in other parts of the business.
Retail trade union Mandate said it will be engaging intensively with the company to get an enhanced redundancy package beyond statutory obligations for the workers who are being made redundant. Those not eligible for the package are expected to receive a one-off payment.
Eurofound (2023), Argos, Closure in Ireland, factsheet number 108246, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108246.