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.
Staples Nederland, an office wholesaler located in Almere, Flevoland, is filing for bankruptcy. As a result, all 160 employees will lose their jobs, reportedly by direct dismissal.
The reason behind the bankruptcy is that the office supplies market was hit hard by the COVID-19 crisis when people started increasingly working from home. At that time, Staples received €1.8 million in wage subsidies from the Dutch government. Digitalisation is also affecting the company. As a result, fewer pens, pencils, and notepads are ordered.
Staples Nederland was already having a hard time before the pandemic. In 2019, a loss of €5.4 million was incurred on a turnover of almost €78.4 million. A year later, turnover had fallen to €55 million.
Eurofound (2023), Staples Nederland, Bankruptcy in Netherlands, factsheet number 200439, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200439.