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.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Other Goods In Specialised Stores 47.71 - Retail sale of clothing in specialised stores
420 jobs Number of planned job losses
Announcement Date
12 December 2016
Employment effect (start)
19 December 2016
Foreseen end date
31 December 2016
Description
The Commercial court of Lille has decided the liquidation of the Dutch company MS Mode, a Dutch chain of clothing stores, and agreed the take over of some of its stores. About 420 employees will be dismissed. The company was declared in receivership on 17 October and has been looking for potential buyers ever since. The chain has about 134 stores in France. 19 will be take over by the group ÏDKids under its brands Okaïdi and Oxybul. The brand Christine Laure will take over two stores. The Dutch group was declared bankrupt last August. Since then, the company has dismissed employees in the Netherlands (935) and in Belgium (220). Several large restructuring in the clothing retail sector in France were recently recorded: Grain de Malice (177 job cuts announced in November 2016); Movitex (165 job cuts announced in May 2016); Promod (133 job cuts announced in April 2016) and Vivarte (1481 job cuts announced in April 2015). Different reasons explain this situation : a bad economic situation in France, unfavourable weather the last years, increased internet sales and the sharp competition with new brands such as Primark, that has opened its tenth store in France this month (December).
Sources
21 December 2016: Les Echos
17 October 2016: L'Ardennais
Citation
Eurofound (2016), MS Mode France, Bankruptcy in France, factsheet number 89677, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89677.
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