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 In Non-Specialised Stores 47.1 - Retail sale in non-specialised stores
100 - 200 jobs Number of planned job losses
Announcement Date
12 June 2005
Employment effect (start)
Foreseen end date
Description
Matalan, the discount clothing chain is planning to cut hundreds of jobs at its head office and in stores as it fights the downturn in consumer confidence. The chain, which has 190 outlets and 17,000 staff, refused to say exactly how many workers will lose their jobs. Weekend speculation suggested there could be hundreds of redundancies. The review will cover the group's head office in Skelmersdale, Lancashire, and the chain's stores. The redundancy programme comes after a severe downturn in trade at the discount retailer. The most recent update on like-for-like sales showed a 9% fall in March and April 2005. It was accompanied by a warning that annual profits would be at the bottom end of expectations if the tough conditions continued. A spokeswoman for the company said it was starting a consultation with workers about the cuts, but that it was too early to say how many people might be affected. She said: ‘It is impossible to be specific until the consultation period is completed'.
Sources
13 June 2005: The Guardian
12 June 2005: BBC News
Citation
Eurofound (2005), Matalan, Internal restructuring in United Kingdom, factsheet number 61734, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61734.
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