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.
Spanish domestic appliances retail chain Unecsa has presented a workforce adjustment plan affecting 181 of its 210 workers. This was announced two months after the firm went into administration. Negotiations with the unions on redundancy compensation will start soon.
In addition to the job cuts, the firm has closed 13 of its 26 stores (one in Aragon and 12 in Catalonia). According to sector sources, the firm's problems started with the acquisition 19 sales outlets of Agrupacion Bazar El Regalo in April 2010 (with 70 staff). Against expectations, the outlets did not generate much profits.
UPDATE 09.03.2012: Unecsa will close down the remaining stores, keeping on only 12 or its 210 workers according to an approved labour force adjustment plan. It has been decided that redundant workers will be paid 20 days of salary per year worked. The workers will be able to apply to the Salary Guarantee Fund (Fogasa).
Eurofound (2012), Unecsa, Bankruptcy in Spain, factsheet number 73352, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73352.