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.
Clothing retailer Store 21 has announced that it is to cut 500 jobs as part of a restructure aimed at securing the long-term future of the company. The deal which was agreed will see 77 stores close, though this will secure 1,200 full time positions. Lower rents have been agreed on the 100 stores which will remain. The sites which are due for closure were not thought to be viable even if rents had been reduced. The timescale for the store closures has yet to be reported.
Eurofound (2016), Store 21, Closure in United Kingdom, factsheet number 88327, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88327.