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
800 jobs Number of planned job losses
Announcement Date
28 March 2017
Employment effect (start)
3 April 2017
Foreseen end date
30 June 2017
Description
The Court of Commerce of Bobigny has agreed the plan for the partial takeover of the French low-cost fashion brand Mim by the consortium formed by the Swiss brand Tally Weijl and Etam. Mim was placed in receivership in November 2016. The partial takeover will lead to about 800 jobs reductions on a total workforce of 1500 employees. The new owners will keep 71 stores out of the 233 stores (and 90 affiliates) located throughout France. Mim had a debt of EUR 60 million and faced a lost of EUR 9 million in 2016. Mim is the third low-cost brand to fail after the announcement of the sale of the Tati group and the reorganisation of Vivarte (1,415 job cuts in 2015).
Sources
28 March 2017: Le Monde
28 March 2017: Libération
Citation
Eurofound (2017), Mim, Bankruptcy in France, factsheet number 90626, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90626.
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