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 Dutch clothing retail chain, Tuunte, specialising in women's and children's fashion, was declared bankrupt, leading to the loss of 250 jobs of mostly part-time employees. The chain has some 40 stores located mainly in smaller towns and villages in the eastern part of the Netherlands (with a few exceptions). The retailer has suffered losses for the past five years. Reasons for its decline are said to be due to an inability to cope with changing consumer behaviour such as increased online shopping and a preference for shopping in larger cities. Options for finding alternative investors are still being investigated.
Eurofound (2017), Tuunte, Bankruptcy in Netherlands, factsheet number 91691, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91691.