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.
Big Bazar, a retail company with its headquarters in Diemen, the Netherlands, has filed for bankruptcy. As a result, all 1300 employees will lose their job, reportedly by direct dismissal.
The owner attributes the company's financial problems to a combination of rising costs of shop rent, staff and energy. At the same time, sales declined as consumers spent less due to high inflation. The Employee Insurance Agency UWV will take over the salaries of all employees for a limited period of time.
Big Bazar had almost 100 shops in the Netherlands and Belgium and was an important component of the Dutch retail market.
Eurofound (2023), Big Bazar, Bankruptcy in Netherlands, factsheet number 200331, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200331.