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.
Finnish chain of hardware stores Stark has initiated employer-employee negotiations aiming to cut up to 170 jobs. The company is considering closing six of its 36 stores and merging stores in two locations. Stores in Kouvola, Kokkola, Tornio, Savonlinna, Järvenpää, and Hyvinkää could be closed while the company is planning on merging its stores in Kuopio and Oulu. According to the company, urbanisation and changing consumption patters are the reasons behind the restructuring. The company's activities will be concentrated on the geographical areas with the highest growth potential in the future. As of October 2016, it is not known when the job losses will be implemented by. Stark is owned by DT Finland, which is a part of the DT Group. DT Group has its headquarters in Denmark.
Updated, 12/12/2016;Following concluded employer-employee negotiations 160 jobs will be cut as Stark closes six stores.
Eurofound (2016), Stark, Closure in Finland, factsheet number 88977, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88977.