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.
Aldi, a leading multinational discount supermarket is withdrawing from Greece and its 700 employees will loose their jobs.
In July 2010, Aldi, one of the biggest German discount retail chain, announced plans to gradually close and sell its 38 outlet stores in Greece by the end of 2010. In 2008, the company had announced challenging plans envisaging a €1.5 billion investement, in order to open 400 outlets within 10 years and out of these 100 store to be opened by 2009. Nonethless the company then opened only 40 stores employing a total of 700 workers in the country.
Aldi (short for "Albrecht Disounts") considered the first that adopted the model of discount stores, started as a small grocery store in a suburb of Essen, Germany. Today it runs more than 9,400 stores in 18 countries that offer deeply discounted prices on about 1,400 popular food items. At corporate level it is divided into two entities, Aldi Nord and Aldi Sud.
The Greek authorities have applied for aid from the European Globalisation Adjustment Fund (EGF).
Eurofound (2010), ALDI, Closure in Greece, factsheet number 70717, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70717.
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