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.
UK supermarket retailer, Tesco has announced plans to close one of its stores in Birmingham which will result in the loss of 225 jobs.
Tesco has decided not to renew the lease for the site. The company has informed all staff that they are at risk of redundancy and it has started a 45 day formal consultation process with the union, Usdaw. Originally opened in 1977, the store will close on 15 August 2015. The store faced competition from other larger stores in the surrounding area. In January 2015, Tesco announced that it was closing 43 stores across the United Kingdom after a number of years of falling profitability.
Eurofound (2015), Tesco, Closure in United Kingdom, factsheet number 83867, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/83867.