Type
Closure
Country
Hungary
Region
Location of affected unit(s)
NA
Sector
Retail
Retail Trade, Except Of Motor Vehicles And Motorcycles
Retail Sale Of Cultural And Recreation Goods In Specialised Stores
47.61 - Retail sale of books in specialised stores

180 - 362 jobs
Number of planned job losses
Job loss
Announcement Date
1 March 2017
Employment effect (start)
1 March 2017
Foreseen end date

Description

Following continuos financial troubles, PD Consulting (the then interim managing firm of Rainbow Kft, operator of Alexandra bookstore chain) decided to close down all of the company's 56 stores. 362 jobs will be lost. 29 of those stores will be reopened and operated by various publishing houses. Around half of 362 employees are likely to be re-hired by the new store operators.


Sources

  • 1 March 2017: mno.hu
  • 1 March 2017: Napi.hu

Citation

Eurofound (2017), Rainbow, Closure in Hungary, factsheet number 90505, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90505.