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.
Sport Eybl & Sports Experts group announced streamlining plans, which will see 250 employees go. The Wels (Upper Austria) based family-owned company is the country's largest sports equipment retailer and currently employs some 2,200 workers in Austria.
The group will undergo a drastic cost-cutting programme and is looking for strategic partners providing them with know-how and equity capital. Some shops may be closed, while the two distinct brands Eybl and Sports Experts will be streamlined.
Reasons for the economic difficulties of the group are the second 'bad' winter in a row, an unsuccessful expansion and a failed private label strategy. The union was surprised by the announcement of the restructuring plans and demands a social plan for the redundant employees.
Eurofound (2013), Sport Eybl & Sports Experts, Internal restructuring in Austria, factsheet number 74800, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74800.