Restructuring events
European Restructuring Monitor (ERM)
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.
USC, a clothing retailer, has gone into administration. The company employs 1427 people in 58 stores across the UK. The chain’s owners have negotiated with the administrators to buy back 43 stores, which will safeguard 1127 jobs. However, the remaining 15 stores, which employ 300 people, have not been bought back. As of 4 January 2009, no information has been released as to when these stores may be closed. The job losses have been attributed to the slowdown in the UK retail sector.
Eurofound (2008), USC, Closure in United Kingdom, factsheet number 67739, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67739.