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.
The French clothing and shoe retail chain Vivarte is to cut 1,500 jobs (1,600 according the unions, and 1,481 net job losses according to the management)
The company has announced to close 244 stores of its brand La Halle (on a total of 608), and 34 stores of its brand “André”. The company is also to cut jobs in its support and logistics functions. The management is now negotiating with unions the social plan.
The group has been facing economic difficulties for several years and it belongs now to hedge and creditor funds. During the last three years, its sales decreased of about 27%. Meanwhile, the textile and fashion market reduced of 4.2% in value.
Eurofound (2015), Vivarte, Closure in France, factsheet number 83473, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/83473.