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 wholesale and retail group Kesko is planning to close 51 Siwa and Valintatalo stores resulting in 206 redundancies. Some of the employees made redundant might be re-hired in other branches of the K-group. All Siwa and Valintatalo stores will be incorporated in the general K-group of stores, with over 400 stores becoming K-stores. The 51 stores which will be closed have not been profitable, which is why they will be closed rather than transformed into K-stores. In addition, 60 stores will be sold in accordance with rules from the Finnish Competition and Consumer Authority after the recent purchase of the company Suomen Lähikauppa. If a seller cannot be found an additional 212 employees will risk dismissal.
The ERM has most recently reported on the closing of Kesko's logistics centre i Kerava in April 2016.
Eurofound (2017), Kesko, Merger/Acquisition in Finland, factsheet number 90335, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90335.