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.
Scottish department store chain McEwens of Perth will close, resulting in the loss of 110 jobs. The affected employees were based in two stores located in Perth as well as smaller stores in Ballater in Aberdeenshire and Oban in Argyll and Bute. The smaller stores located in Ballator and Oban have been closed while the flagship store in Perth will remain open for a short time while administrators attempt to sell off remaining stock. As a consequence, 64 staff were immediately made redundant, while the remaining 46 will go once the administrators finalise the winding-up of the business. The business was placed in the hands of administrators after failing to find investors or partners to buy into the business. The firm was once Scotland’s largest independent and family-run department store, having begun first trading in 1868.
Eurofound (2016), McEwens of Perth, Closure in United Kingdom, factsheet number 86873, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86873.