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.
Marypaz, one of the largest footwear retail companies in Spain, has announced the closure of all its 54 stores in Spain (including its online sale platform) and the opening of an employment redundancy file (ERE) affecting all company employees, namely 276 people. The company has argued the measure due to the deterioration in demand for its products and the increase in economic losses.
Marypaz ended 2023 with a total debt of 21 million euros. Marypaz was once one of the largest shoe store chains in the country, with a network of 229 shops throughout Spain and around 1,000 employees in 2019.
The union CCOO indicates that an offer has been received from a buyer, whose identity has not been revealed, which would make it possible to maintain the employment of part of the Marypaz workforce. Specifically, this buyer would be willing to acquire around 20 of the chain's points of sale and preserve around one hundred workers.
Previous restructring events of Marypaz were recorded in the ERM database in June 2020, where a jobcut of 170 jobs was announced (Marypaz 2020-ES)
Eurofound (2024), Marypaz, Closure in Spain, factsheet number 201458, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201458.