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.
German fashion and lifestyle company Gerry Weber, headquartered in Halle, has announced 425 job cuts.
The clothing company is closing 122 of its 177 shops and branches in Germany. This means that by the end of September 2023, 350 full-time jobs will be lost at Gerry Weber Retail, which is in insolvency proceedings. In addition, 75 jobs will be cut at Gerry Weber International and Life-Style Fashion at the head office in Halle, which is undergoing restructuring proceedings. When exactly this part of the job cuts will be completed is not yet known. The aim is to refocus the company on the wholesale business. Already three years ago, Gerry Weber had to be saved from bankruptcy with the help of insolvency proceedings (Gerry Weber-2020-DE).
Gerry Weber employs about 2,100 people with sales structures in more than 60 countries, 500 own shops and sales areas, 2,040 shops on the premises of our wholesale partners, 240 franchise shops as well as brand online shops in nine countries.
Eurofound (2023), Gerry Weber , Bankruptcy in Germany, factsheet number 109314, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/109314.