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 In Non-Specialised Stores 47.1 - Retail sale in non-specialised stores
European Globalisation Fund (EGF)
Year: 2015, Case number: 11
577 jobs Number of planned job losses
Announcement Date
22 April 2015
Employment effect (start)
Foreseen end date
Description
According to local newspaper "Eleftheria", Supermarket Larisa, the largest supermarket chain operating in the region of Larisa went bankrupt on April 22, 2015 after 28 years of operation. According to the reasoning of the court's ruling, "the company began to face financial problems from 2011, which were gradually rising and in the autumn of 2013 came to a general and permanent inability to meet its' overdue liabilities. Since then, it has ceased to pay employees' wages, tax liabilities, service debts to suppliers, and has not paid VAT taxes received from its customers. Additionally, from September 2013 onwards the company owes earned incomes to the employees as they were not paid in a timely fashion and were also obliged to take part of their salary in kind. In mid-June 2014 all 42 supermarkets were shut down. After the bankruptcy of the cooperative, 422 workers and 135 workers & co-owners lost their jobs.
The closure of Supermarket Larisa has subsequently been the subject of a European Globalisation Fund application in 2015.
Sources
22 April 2015: onlarissa.gr
Citation
Eurofound (2015), Supermarket Larisa, Bankruptcy in Greece, factsheet number 93204, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93204.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
