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.
Duror Fashion Group, a Belgian chain of clothing retailers which overarches the Terre Bleue, Gigue and Zilton brands has declared bankruptcy. In total, approximately 150 employees are at risk of losing their job because of this. According to the company management, the main reasoning behind the bankruptcy is that its debt ratio increased dramatically during the COVID-19 crisis and failed to improve in the following years.
According to recent news reports, several potential buyers, both Belgian and foreign are interested in taking over the company (some are interested in certain parts, others are willing to take over the entire chain).
All 29 remain closed for the time being.
Eurofound (2024), Duror Fashion Group, Bankruptcy in Belgium, factsheet number 201380, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201380.