JOH

Type
Bankruptcy
Country
Germany
Region
Hessen;
Location of affected unit(s)
Gelnhausen, Friedberg, Zwickau, Saalfeld, Gotha
Sector
Wholesale / Retail
46 - Wholesale trade
46.1 - Wholesale on a fee or contract basis
46.16 - Activities of agents involved in the wholesale of textiles, clothing, fur, footwear and leather goods
300 jobs
Number of planned job losses
Job loss
Announcement Date
26 June 2013
Employment effect (start)
1 September 2013
Foreseen end date
30 September 2013

Description

German department store chain JOH filed for insolvency in May 2013 and will close all stores by September 2013, dismissing 300 employees. This decision was taken because of the firm’s inability to compete with online trading companies. The cities of Friedberg and Gelnhausen (Hesse), Gotha and Saalfeld (Thuringia) and Zwickau (Saxony) will be the most affected by the direct dismissals.  The insolvency manager indicates that some stores may find new investors.

Sources

  • 26 July 2013: Frankfurter Runfschau

Citation

Eurofound (2013), JOH, Bankruptcy in Germany, factsheet number 75627, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75627.