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 troubled Dutch department store V&D has announced that it will close after a rescue deal fell apart, resulting in the loss of 8,000 jobs. The 128-year-old chain with around 250 outlets was declared bankrupt on 31 December 2015. Around 5,000 affected employees are direct employees of V&D, while the remaining 3,000 are employees of the restaurant chain associated with the store La Place. Coolinvestments had signalled an interest in rescuing the the chain, but it stated that it was not possible to get all parties involved onboard with their vision of a relaunch. A 'few dozen' employees will remain to complete the bankruptcy proceedings. Trade union FNV is 'deeply disappointed' in the outcome. The ERM reported last year that the company would cut 400 jobs.
Eurofound (2016), V&D, Closure in Netherlands, factsheet number 86570, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/86570.