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
256 jobs Number of planned job losses
Announcement Date
1 April 2009
Employment effect (start)
Foreseen end date
31 December 2009
Description
Markantalo, the electrical appliance retailer, is to start personnel negotiations in order to cut 256 jobs due to productivity reasons. The owner of the company, Elkjöp Nordic, plans to shut down all 19 Markantalo units in Finland by the end of 2009.
Markantalo has had financial troubles for the last few years and according to Elkjöp Nordic's Irmeli Rytkönen "Markantalo has been a serious disappointment as an investment. It has been running last couple of years from the profits of group's other electrical appliance retailer - Gigantti".
Sources
1 April 2009: Uutispäivä Demari
Citation
Eurofound (2009), Markantalo, Closure in Finland, factsheet number 68841, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68841.
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