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.
The DFS Group, part of the group LVMH, has announced the imminent closure of the historic Fondaco dei Tedeschi shopping centre in Venice, a decision that will result in the dismissal of 226 employees.
The closure follows the expiration of the location's lease agreement with the DFS Group and the shopping centre's significant financial struggles, having accumulated losses exceeding 100 million euros. The group mentioned that this closure is part of a global strategy.
City officials in Venice have expressed strong criticism of the decision, emphasizing its devastating impact on both the local economy and the affected families.
Eurofound (2024), DFS, Closure in Italy, factsheet number 201972, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201972.