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 In Non-Specialised Stores 47.11 - Retail sale in non-specialised stores with food, beverages or tobacco predominating
380 jobs Number of planned job losses
Announcement Date
12 March 2015
Employment effect (start)
Foreseen end date
31 December 2015
Description
Supermarket chain Morrisons has announced that it is to close 23 of its Morrisons local stores with the loss of 380 jobs. This follows the announcement of the yearly profit figures which were the worst in eight years. The chain has been hit hard by competition and same-store sales were down 5.9% over the year. The local stores will close over the course of 2015; the company has also announced that selection criteria for future site developments are to be reviewed.
Sources
12 March 2015: BBC Website
Citation
Eurofound (2015), Morrisons, Internal restructuring in United Kingdom, factsheet number 79182, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/79182.
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