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 Wholesale Trade, Except Of Motor Vehicles And Motorcycles Wholesale On A Fee Or Contract Basis 46.19 - Agents involved in the sale of a variety of goods
228 jobs Number of planned job losses
Announcement Date
14 June 2011
Employment effect (start)
1 January 2012
Foreseen end date
30 June 2012
Description
Retailer Kaufhof, a subsidiary of Metro Group, announced the closure of four stores in Gießen, Cologne, Nuremberg and Oberhausen due to the non-profitabilty of these filiales. Those four employ a total of 228 employees. Kaufhof has faced the risk of insolvency in the past years and closed down other four filiales in 2009 following the financial crisis. Currently, the retailer operates a total of 109 retail stores and 15 sport shops in Germany and 15 more in Belgium. The restructuring is expected to be concluded by mid-2012 and a socially acceptable solution for the employees that will be affected is being discussed.
Sources
14 June 2011: Financial Times Deutschland
Citation
Eurofound (2011), Kaufhof, Internal restructuring in Germany, factsheet number 72067, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72067.
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