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.
Spanish company specializing in shared electric scooter rentals Cooltra has announced that it will cut about 138 jobs in Paris and 17 neighbouring suburban municipalities.
On 21 February 2024, the Paris Commercial Court approved the takeover of Cityscoot, a shared scooter rental operator, by Cooltra, which was the sole bidder following Cityscoot’s receivership in November 2023. Cityscoot will continue under joint branding with Cooltra, though the fleet size will be reduced. Cooltra plans to retain only 30 of Cityscoot’s 168 employees, focusing on maintenance roles in Saint-Ouen and Arcueil. This acquisition aims to ensure profitability through scaled-down operations aligned with market demand.
Cityscoot, which has been in receivership since November 2023, operates 2,500 electric scooters in Paris, and 250,000 active users.
Eurofound (2024), Cooltra, Merger/Acquisition in France, factsheet number 201965, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201965.