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.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Other Goods In Specialised Stores 47.71 - Retail sale of clothing in specialised stores
213 jobs Number of planned job losses
Announcement Date
30 July 2004
Employment effect (start)
30 July 2004
Foreseen end date
8 August 2004
Description
After the insolvency of the German Hettlage company, a large retailer of clothing, the Austrian subsidiary, Hettlage Österreich, went bankruptcy as well. As a consequence, seven of 13 stores across the country were to be closed down in the beginning of August 2004, resulting in job losses affecting 213 employees. 280 employees will keep their jobs, since Kleider Bauer, an Austrian chain store also operating in sales of clothing, took over the six largest Hettlage stores in June 2004.
Sources
30 July 2004: Der Standard
Citation
Eurofound (2004), Hettlage Österreich, Bankruptcy in Austria, factsheet number 60500, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60500.
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