Location of affected unit(s)
Retail Trade, Except Of Motor Vehicles And Motorcycles
Retail Sale Of Cultural And Recreation Goods In Specialised Stores
47.6 - Retail sale of cultural and recreation goods in specialised stores

1,000 jobs
Number of planned job losses
Job loss
Announcement Date
17 June 2013
Employment effect (start)
24 June 2013
Foreseen end date
20 July 2013


On 17 June 2013, the Commercial Court of Paris decided the liquidation of entertainment and retail chain Virgin Megastore, affecting a total of 1,000 jobs.

According to the sources, 960 jobs are at stake and another 40 people will lose their jobs (from subsidairies). A works council will be held on 24 June to reach the final decision of the social plan. Employees fight to obtain a 15 million euros budget instead of the 8 million currently proposed by the owner. As reported, 8 out the 26 stores are occupied by employees protesting and asking for a better departure plan.

The company that created the first “megastore” on the Champs-Elysées (Paris) in 1988 has seen its turnover decreased with the increase of sells on the Internet. Virgin operates 26 stores in France and is owned by the Butler Capital Partners investment funds.



Eurofound (2013), Virgin Megastore, Bankruptcy in France, factsheet number 75527, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75527.