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 DIY and garden centre retailer Mr Bricolage has announced a reorganisation that will lead to close 17 of 759 sites in France and to cut 238 positions. It will also sell about 30 sites in the next three years. The aim is to progressively sell the 87 sites in Europe that directly belong to the company (the other shops are franchises). The company has 832 sites in the EU including 759 in France. The business had lost €12 million in 2015. The management has budgeted €65 million for the restructuring. The three unions CFDT, CGT and FO formed a common front to denounce the closures and job cuts. They report that shareholders never supported the sites facing economical difficulties.
Eurofound (2016), Mr Bricolage, Closure in France, factsheet number 89284, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89284.