Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Retail
Retail Trade, Except Of Motor Vehicles And Motorcycles
Retail Sale Of Other Goods In Specialised Stores
47.75 - Retail sale of cosmetic and toilet articles in specialised stores

700 - 1,000 jobs
Number of planned job losses
Job loss
Announcement Date
30 May 2005
Employment effect (start)
1 June 2005
Foreseen end date
31 December 2005

Description

Drugstore chain Ihr Platz, the number 5 in the German market, has declared insolvency. Although there is a plan for the continuation of business, the management foresees the closure of 70 to 90 unprofitable stores, resulting in job losses of around 10 % of Ihr Platz's total staff.


Sources

  • 31 May 2005: Frankfurter Allgemeine Zeitung

Citation

Eurofound (2005), Ihr Platz, Internal restructuring in Germany, factsheet number 61664, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61664.