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.
Struggling French fashion house Sonia Rykiel has announced a strategic plan that will lead to cut about 79 positions on a total workforce of 330 employees in France. Since 2012, the ready-to-wear company owner is the Chinese group First Heritage Brands (former Fung Brands). The company said it had to approach the current market climate realistically, citing "extremely difficult" conditions notably in Eastern Europe and Asia. Recent terror attacks on France and Belgium weighed on performance, the firm said while welcoming strong showings elsewhere, including in the USA which had helped overall sales to rise last year for the first time since 2008. However, these "encouraging results will not alone ensure sustainable growth", according to the management. The reorganisation will see some lines disappear, including the more competitively priced « Sonia by Sonia Rykiel » aimed at younger buyers and its children's collection.
Eurofound (2016), Sonia Rykiel, Closure in France, factsheet number 89010, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89010.