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
141 jobs Number of planned job losses
Announcement Date
15 October 2005
Employment effect (start)
Foreseen end date
Description
The Co-operative group is to close 10 department stores as part of its plan to exit this sector of the retail market. The group said it hoped to sell the remaining 26. The closure will result in the loss of 71 full-time and 70 part-time positions. The remaining 26 stores, which employ 491 full-time and 379 part-time jobs, will be closed if a buyer is not found by February 2007. The decision to stop running department stores follows a review suggested it would be better
Sources
15 October 2005: The Guardian
Citation
Eurofound (2005), Co-op, Closure in United Kingdom, factsheet number 62409, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62409.
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