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 Grenoble has accepted the takeover of the Gap clothing shops, which belong to Wilsam, by the company Spodis, belonging to the London-listed group JD Sports. The court had previously declared Wilsam in receivership. Spodis is taking over a large part of the business of the ailing clothing chain for €300,000.
With its offer, it is safeguarding 214 out of 336 jobs with the commitment not to make any redundancies for two years. A total of 122 employees will be dismissed.
A subsidiary of the group owned by businessman Michel Ohayon, Gap France was placed in receivership at the beginning of March, with liabilities of nearly €6 million at the time. These liabilities had risen to more than €34 million by the time of the hearing on 26 April.
Two former restructurings have been recorded in the ERM Database, with 500 job losses in 2020 (FR-Gap-2020) and 250 job losses (FR-Gap-2019).
Eurofound (2023), Gap France , Merger/Acquisition in France, factsheet number 109030, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/109030.