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 Sale Of Other Goods In Specialised Stores 47.71 - Retail sale of clothing in specialised stores
243 jobs Number of planned job losses
Announcement Date
16 December 2011
Employment effect (start)
16 December 2011
Foreseen end date
Description
The menswear retail chain Don Gil, which had filed for insolvency on 25 October 2011, has been taken over by the German Gerry Weber textile group, which will employ 57 out of Don Gil's former 300 employees, thus making 243 employees redundant.
Gerry Weber bought the insolvent retail chain for EUR 6.1 million on the 16th of November 2011 and is planning on integrating between 18 and 20 of the 29 former Don Gil stores into its own branch store concept, according to the company's CEO Mr Kronefeld. Some 57 out of formerly 300 employees of Don Gil will be further employed by Gerry Weber. The remaining employees will thus lose their jobs.
Sources
16 December 2011: Die Presse
19 December 2011: Der Standard
Citation
Eurofound (2011), Don Gil, Merger/Acquisition in Austria, factsheet number 72889, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72889.
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