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.
Colruyt, a Belgian multinational retail chain has announced it will be closing six of its braches across the country, resulting in a potential job loss of 192 employees, 150 within the Dreamland branch and 42 at Dreambaby. The company management states that the challenging market in which the branches have to operate with a reduction of sales in physical stores plays an important role in the decision. In addition to the closure of the different branches, the Colruyt group also decided to sell 75% of its share to Belgian chain Toychamp. Despite the majority of shares for Toychamp, the branding and name of Dreamland and Dreambaby will continue to exist.
June update: Belgian retail chain Colruyt has announced that it ultimately will be closing five of its Dreambaby stores in Vilvoorde, Tienen, Hoei, Drogenbos and Beveren as well as a Dreamland store in Hasselt. This will result in a total cut of 119 out of 1100 jobs in these chains. After negotiations with the trade unions, the number of job cuts was ultimately reduced to 119 from the 192 that were originally planned, including 28 at Dreambaby and 91 at Dreamland, 12 in central services and 16 in stores.
The company management states that a number of affected employees will also be offered a new position as well that there will be a review with all affected people to see if they can continue working in the broader Colruyt group.
Eurofound (2023), Colruyt, Closure in Belgium, factsheet number 108898, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108898.
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