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 commercial court of Bobigny has agreed the take over of Agora distribution, the owner of the clothes retailer network Tati, by the group Gifi. The new owner will keep 109 of the 140 shops in France and 1,428 employees out of a total workforce of 1,700 employees. The take over will lead to the dismissal of 272 employees. Agora distribution was owned by the group Eram that decided to sell it after a loss of €148.5 million after a turnover of €346.7 million in 2016. The unions CFTC, CFDT and Unsa were in favour of Gifis' proposal as it maintain the most job positions. In the framework of a social plan signed on 16 June, each dismissed employee will receive, on average, an allowance of €10,000 depending on their seniority, in addition to the legal amount of dismissal allowance.
Eurofound (2017), Agora Distribution, Merger/Acquisition in France, factsheet number 91496, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91496.