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.
Bazarchic, a subsidiary of the Galeries Lafayette Group, is set to close in March, leaving around 100 employees without jobs. Despite being a pioneer in online sales and generating €80 million in revenue in 2021, the company faced insurmountable challenges. The decision to shut down Bazarchic was attributed to economic difficulties, intensified competition in the e-commerce sector, and evolving consumer trends.
Several large restructurings have been recorded on the ERM database by the Galeries Lafayette Group, with the latest cutting 185 jobs in 2021 Galeries Lafayettes 2021 - FR.
Eurofound (2024), Bazarchic, Closure in France, factsheet number 202121, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202121.