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 47.78 - Other retail sale of new goods in specialised stores
500 jobs Number of planned job losses
Announcement Date
16 July 2013
Employment effect (start)
10 February 2014
Foreseen end date
28 February 2014
Description
Finnish specialty goods store chain Tiimari has announced redundancies of 70 employees during 2014-2015. The company is closing 24 of its 174 stores nationwide.
Tiimari produces and sells materials for crafts and gifts as well as stationery items, among other things. It has operated 174 stores with approximately 500 employees in Finland, but it has also stores in Estonia, Latvia and Lithuania. The company seeks to improve its result by 2 million euros annually. The redundancies of 70 employees will start in early 2014 and end by the end of June 2015.
Updated, 30-09-2013: As announced, Tiimari has been declared bankrupt.
Updated, 10-12-2013: As reported, Tiimari will close all its stores by the end of February 2014.
Sources
18 September 2013: MTV3 News
16 July 2013: Taloussanomat
16 July 2013: Tiimari press release
30 September 2013: YLE News
Citation
Eurofound (2013), Tiimari, Bankruptcy in Finland, factsheet number 75729, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75729.
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