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 Trade, Except Of Motor Vehicles And Motorcycles 47 - Retail trade, except of motor vehicles and motorcycles
163 jobs Number of planned job losses
Announcement Date
1 May 2008
Employment effect (start)
1 May 2008
Foreseen end date
1 May 2008
Description
Sound Control, a firm that retails musical instruments, has announced that it has closed 10 retail outlets across the UK with the loss of 163 jobs. The firm entered administration earlier in 2008. It operates 26 outlets in the UK, employs 338 and has an annual turnover of 50 million GDP. The job losses were implemented from May 1st 2008. The decision to close the retail outlets and make the redundancies were made by Deloitte, the administrator of the firm.
Sources
1 May 2008: BBC News
Citation
Eurofound (2008), Sound Control, Closure in United Kingdom, factsheet number 66586, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66586.
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