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.
Plantagen, a garden and plant retail chain, has announced that it will cut up to 500 jobs worldwide by the end of 2024.
The restructuring programme will affect jobs across Norway, Sweden and Finland. In Norway, the chain announced plans to close 14 of its 69 stores, leading to the loss of 250 positions Plantagen-2024-NO. The closures will be completed by December 23, 2024. In Sweden, Plantagen is to cut 159 jobs Plantagen-2024-SE. In Finland, the company has filed for bankruptcy and, as a result, 94 positions are at risk. The source reports that the company’s stores still operate, but the online store is no longer operating in Finland.
The restructuring is driven by declining profitability due to sluggish sales. Plantagen is focusing on cost-saving measures, with job reductions primarily affecting permanent retail and administrative positions. The conditions of the programme are negotiated with employee representatives according to local regulations. The company has been facing profitability challenges due to high inflation and low consumer demand.
Plantagen is the leading garden chain in the Nordics. The company has about 130 stores in Sweden, Norway and Finland.
Eurofound (2024), Plantagen, Closure in World, factsheet number 201760, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201760.