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.
French retail chain Galerie Lafayette has announced the closure of its store in Lille, which will result in 134 job cuts. Last March, the company announced to shut down two stores in Thiais (Val-de-Marne) and Béziers (Hérault) by the end of 2015. The decision led to the loss of 177 positions. At that time, the management announced the downsizing of its store in Lille by 30 positions. The company has now failed to renegotiate the loan of its store and has decided to announce the closure. Furthermore 140 brand employees not directly employed by Galerie Lafayette will lose their job too.
Eurofound (2015), Galeries Lafayette, Closure in France, factsheet number 84263, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/84263.