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 Finnish grocery leader S Group has announced the intention to close its Prisma hypermarkets and to dismiss 292 employees in Vilnius and Kaunas by June 2017. The retailer currently operates four stores in Lithuania and all of them will be closed in June 2017. According to the management, Prisma market shares in Lithuania were not large enough to ensure profitability, thus the growth would be very challenging going forward.
Prisma LT started its activities in Lithuania in 2008 and had plans to open 10 stores.
Prisma stores will also be closed in Latvia.
Eurofound (2017), Prisma LT, Closure in Lithuania, factsheet number 90826, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90826.